Bp Aims To Plug Oil Leak By July 27th

07.08.10 | FL News Team

(Washington, DC)  --  BP is aiming to get its leaking oil well in the Gulf of Mexico plugged weeks ahead of schedule.  "The Wall Street Journal" reports the British energy giant is shooting for July 27th as its new deadline to complete a relief well that's been painted as the company's best hope to stop the massive oil spill.

The head of BP's Gulf Coast restoration unit, Bob Dudley, told the "Journal" it will be possible to have the leak plugged between July 20th and 27th as long as there aren't any interruptions, but he admitted the Atlantic hurricane season could hamper the operation.  In the meantime, officials are working on a series of backup plans, such as hooking up the leaking well to pipelines for two nearby gas and oil fields.

BP shares have fallen by half since its well in the Gulf blew out, causing the worst oil spill in U.S. history.  The new target date to have the leak plugged -- July 27th -- is the same day BP is due to speak with investors and report its second-quarter earnings.