Stock Market Today

BP PLC (BP, BP.LN) Friday night reported that its rate of oil recovery from a huge oil leak in the Gulf of Mexico continued to move higher as it optimizes its collection system.

The company, which has been collecting and more recently flaring oil spewing from a broken deep-sea well, said that in the first 12 hours of Friday it had collected 8,320 barrels of oil and flared 4,950 barrels, for a total of 13,270 barrels. That represents an increase of half-day rates for collection and flaring of 3.2% and 3.8%, respectively, compared with the previous 12 hours.

A team of scientists this week estimated about 35,000 to 60,000 barrels are flowing from the broken well every day.

The company has been under intense pressure to successfully contain the spewing oil, which began in April when a deepwater drilling rig exploded and sank. The company’s repeated failures at a temporary solution to patch the leak heightened scrutiny of its response, and it is still working on a permanent fix to the well.

Earlier Friday, the minority partner in the well, Anadarko Petroleum Corp. ( APC), blamed BP for the disaster, accusing it of “gross negligence and willful misconduct.” BP rejected the allegations.

BP shares were down 0.8% at $31.52 after hours. The stock has fallen 45% since the beginning of the year in the midst of the Gulf crisis.