BP stock prices again fell. By January 2007, the explosion, coupled with a pipeline spill in Alaska and production delays in the Gulf of Mexico, left BP's stock down 4.5% from its position prior to the Texas City explosion. However, by April 2007, stocks had rebounded 13% erasing the 8.3% loss from 2006. Declining oil prices and concerns over oil sustainability also caused shares to fall in value in late 2008. The Deepwater Horizon oil spill in April 2010 initiated a sharp decline in share prices, and BP's shares lost roughly 50% of their value in 50 days. BP's shares reached
Mega Borg Oil Spill Mega Borg Oil Spill The "Mega Borg" Oil Spill occurred in the Gulf of Mexico on June 8, 1990, roughly 50 miles off the coast of Texas, when the oil tanker "Mega Borg" caught on fire and exploded. The cleanup was one of the first practical uses of bioremediation. At 11:30 PM on the evening of Saturday June 8, 1990, an explosion in the cargo room of the Norwegian oil tanker the "Mega Borg" “ruptured the bulkhead between the pump room and the engine room”, causing the ship to catch fire and begin to leak oil. The 853-foot-long, 15-year-old vessel