BP Has 'Some Success' in Bid to Halt Leak, US Says (Correct) - BusinessWeek

May 27 (Bloomberg) -- BP Plc made progress in efforts to stop the leak from its Gulf of Mexico well, the U.S. Coast Guard said, as a federal panel issued a new estimate indicating the offshore oil spill has become the largest in U.S. history.

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The well has been leaking oil at a “best initial” estimated rate of 12,000 barrels to 19,000 barrels a day, Marcia McNutt, head of a U.S. governmental panel, said today. At the midpoint of that rate, the well has exceeded the 262,000 barrels spilled by the Exxon Valdez in 1989 and the record 300,000- barrel spill by a tanker off the Oregon coast in 1968, according to statistics from the American Petroleum Institute.

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The company may have stopped the flow of oil from the well after pumping mud-like drilling fluid into it, U.S. Coast Guard Admiral Thad Allen said. BP will need another 24 hours before it can be “sure of success” for the process, Robert Dudley, managing director for the London-based company, said on NBC’s “Today” show this morning.

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