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Published on Friday, June 4, 2010 by McClatchy Newspapers
BP Looks to Profit from Oil Salvaged from Gushing Well
BP, Feds Could Make Millions from Runaway Well's Oil
by Erika Bolstad

WASHINGTON - BP's runaway deepwater well could still become a moneymaker for the company, even as it tries to stem the gush of crude oil that's fouling the Gulf of Mexico.
If the current containment effort works - and BP and the government say they're optimistic that it will - the oil giant will salvage much of the oil that's now spewing from the crumpled pipes on the ocean floor. That captured oil, McClatchy estimates, could generate more than $1.4 million in revenue for BP each day.

BP Chief Executive Tony Hayward listens during a news conference in London February 2, 2010. If the gusher in the gulf can be contained, all the oil that BP is able to siphon off will be sold at market. "It's exactly the same as if it's normally produced oil," BP spokesman Graham MacEwen said. (Reuters)Once the oil is piped to the surface to the drill ship Discoverer Enterprise, it will be processed and sent by tanker to a refinery to be sold.

"It's exactly the same as if it's normally produced oil," BP spokesman Graham MacEwen said.

Based on government estimates of the flow rate, the mangled well could produce oil valued at as much as $85 million over the next 60 days, until a relief well is complete and the well is capped permanently.