BP braced for humiliation

BBC business editor Robert Peston on the Deepwater findings

It's a nerve-wracking countdown for BP this morning, till the publication at noon of the results of its own investigation into the tragic events of 20 April, when the Deepwater Rig exploded, leading to 11 deaths and the worst oil spill in US history.

Those close to the investigation tell me that BP will be embarrassed by the report, which runs to 200 pages and is filled with technical detail.

That said, BP is confident that it can prove that its design for the well was not flawed.

Also, as I mentioned on Friday, one important implication is that there are flaws in safety systems prevalent in the oil industry as a whole.

But even if much of what went wrong may be laid at the doors of those BP contracted to work on the well - such as Transocean which owned and operated the rig and Halliburton which cemented the well - BP as their employer is well aware that it cannot shirk responsibility for the disaster, especially if there is even a hint that safety was compromised by BP's attempts to control costs.

You can keep up with the latest from business editor Robert Peston by visiting his blog on the BBC News website.

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