BP has decided to replace the cap from the leaking well, on this weekend. As per reports, the new cap, will have a larger capacity of containing the oil from the sea floor. But the worry here is, during the replacing process, oil will gush out more into the sea.

According to the Coast Guard Officials, BP’s submersibles, would start the process of replacement by removing the current containment cap by the end of this week. Admiral Thad Allen, stated, the flowing oil from the well would be shutoff on Monday, but by that time almost hundreds of thousands of barrels of oil would be flown into the sea.

The Admiral also stated that right the term ‘contained’ can be used, ’stop’ can be said when the BP totally plugs the leaking well and the flow has been stopped permanantly. However BP on the other hand are trying numerous ways to stop the flow of leaking well, they even tried divert the flow by drilling two relief wells near by.

BP has made a new deadline to plug the well, it would be August, where on the other hand US felt that BP would be successful in completing its promise way before this time period.

According to the Bob Dudley, the head of the Gulf Coast Restoration unit, states that the oil well has no possibility of being plugged between the 20th till the 27th of July. He added, that August would only prove to be possible if the process goes without facing any interruption.

The Banks on the other hand, have said that the CEO Tony Hayward, now is on a marketing drive promising and compromising investors and shareholders to help improve in financial stock. The share price had fallen tremendously since the oil well exploded.

Another problem that BP has to face, is how they would compromise the Obama administration in court in regards to their drilling program, where the administration is looking forward to suspend BP for six months from drilling in the Gulf.

With strong environmental issues at stake, the Obama administration have enough evidence to speak, which is making the court think, whether to suspend BP’s drilling program in the Gulf. The cause stated by the administration to halt the drilling program, is to investigate in to the cause behind the catastrophe and also to determine that drilling there would safe or not.