Bp Faces Difficult Week Ahead

06.07.10 |

BP has a tough week ahead. Even though BP's new containment cap is now capturing an estimated ten-thousand-500 barrels of oil a day from the leaking well in the Gulf of Mexico, the embattled oil giant faces ongoing criticism and three probing congressional hearings this week. BP's handling of the crisis, which began 49 days ago, will be reviewed by three separate government committees today, Wednesday and Thursday. BP faces criminal investigations, lawsuits and low investor confidence that has resulted in a loss of one-third of the company's worth since the Deepwater Horizon rig exploded on April 20th, killing eleven workers. The spill has also caused a public relations nightmare for BP. Over the weekend BP chief executive Tony Hayward said he had no plans to step down from his position during an interview with "The Sunday Telegraph."