Baker panel outlines
‘systemic’ problems
with U.S. refineries
By CHIP CUMMINS
January 15, 2007
LONDON — BP PLC board members and executives face a report this week from former U.S. Secretary of State James A. Baker III that will significantly broaden criticism of safety and management practices at the British oil giant and heighten pressure on board members and management to make deep changes as it transitions to its first new chief executive in more than decade.
BP and the U.S. Chemical Safety Board, an American investigative agency with no regulatory role, have issued a series of reports on poor management, maintenance and safety practices at BP’s Texas City, Texas, refinery, the site of an explosion in March 2005 that killed 15. The Chemical Safety Board, for instance, blamed cost cutting at the company for contributing to the accident, a finding BP had vigorously denied. Investigators, including the Justice Department, are continuing to probe that accident. read more
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