"Rig Explosion Dirties BP's Green Image"

"BP brands itself a friend of the environment, an energy company that goes 'beyond petroleum.'

That image, worth billions of dollars, is being sullied by the company's inability to contain a massive oil spill in the Gulf of Mexico.

As the expanding oil slick threatens marshlands and wildlife along the coasts of Louisiana and Mississippi, BP faces perhaps the biggest public relations challenge an oil company has experienced in the U.S. since the Exxon Valdez tanker disaster in Alaska in 1989.

BP's environmentally friendly image -- its logo is a green and yellow sunburst -- has outlasted past accidents, including a Texas refinery blast and Alaska pipeline spill. But last week's deadly explosion on a BP-operated oil rig and the looming environmental damage are shaping up to be a major problem, experts said.

Since the accident, BP's stock market value has declined by roughly $25 billion."

Chris Kahn reports for the Associated Press April 30, 2010.

See Also:

"BP Shares Dip, Recover" (AP)

Source: AP, 04/30/2010