BP promises $500m for oil spill research

The Deepwater Horizon oil spill has prompted BP to pledge $500 million (£350 million) for research into the effects of such disasters.

The oil industry giant said it would commit to the funding for independent studies detailing what went wrong, the steps taken to clean up the spill and how similar problems can be avoided in the future.

It was said that every opportunity needs to be seized to ensure that major oil spills like this do not happen again and the people of the Gulf Coast should receive answers as to why it did.

Tony Hayward, chief executive for BP, added: "We must make every effort to understand that impact. There is an urgent need to ensure that the scientific community has access to the samples and the raw data it needs to begin this work."

BP recently reported that it is utilising a blow out preventer to stop the oil from spreading, while the riser insertion tube tool is extracting around 3,000 barrels of oil and 14 million cubic feet of gas a day.