BP in deeper trouble, has hands full with Gulf oil slick chaos

Oil company BP looks to be in deeper trouble and is readying for a grilling by US lawmakers on Tuesday over its failure to contain the growing Gulf of Mexico oil slick.

After failing to contain the spill with a giant dome over the weekend, BP said on Monday it would make a second attempt this week using a smaller version dubbed the ‘top hat.’

A four-story, 100-tonne box was lowered on Friday to the seabed nearly a mile (1,500 metres) below the surface to try to capture most of the oil and allow it to be funneled up to a ship above, but it was rendered useless on Sunday when ice crystals formed in its domed roof.

BP shares have now fallen around 17 percent since the start of the Deepwater Horizon Gulf disaster, which started on April 20th 2010 as the rig exploded.

BP is now examining other options including to block the well’s failed blowout preventer using golf balls and rubber tyres. A relief well being drilled to try to finally plug the ruptured well could still take months to complete.

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