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BP finally ‘kill’ Gulf of Mexico oil well
Business Digest: Macondo well in the Gulf of Mexico has finally been declared ‘effectively dead’
BP has finally sealed the leaking Macondo oil well in the Gulf of Mexico with a cement plug, according to officials in the US.
National Incident Commander Thad Allen declared the well "effectively dead" following a pressure test by BP on the plugs at 5.54am local time.
"Additional regulatory steps will be undertaken, but we can now state, definitively, that the Macondo well poses no continuing threat to the Gulf of Mexico," he added.
President Obama hailed the news as an "important milestone", and vowed to continue efforts to help those who were affected.
It brings an end to a crisis that has cost BP dear. The oil giant has created a compensation fund of $20bn and contributed a further $8bn so far in clean-up efforts.
BP can now leave the site and concentrate on dealing with the aftermath of the spill.
Read a full report at BBC News. ·
