A newly released final report on the U.S. worst industrial accident since 1990 blames London-based BP for cost cutting that left its Texas City plant vulnerable to catastrophe, resulting in an explosion that killed 15 people and injured 170.(File Photo) Photo Gallery >>>

BEIJING, March 21(Xinhuanet) -- A newly released final report on the U.S. worst industrial accident since 1990 blames London-based BP for cost cutting that left its Texas City plant vulnerable to catastrophe, resulting in an explosion that killed 15 people and injured 170.

The U.S. agency responsible for worker safety also failed to inspect plants with enough care and frequency to prevent an accident like the 2005 explosion, and does not have enough qualified inspectors for U.S. oil and chemical facilities, the U.S. government report and its lead investigator said Tuesday.

The U.S. Chemical Safety and Hazard Investigation Board(CSB)'s report said that although the Texas City plant had had several fatal accidents over the last 30 years, the federal Occupational Safety and Health Administration had conducted only one process safety management inspection at the refinery -- in 1998, the report said.

BP acquired the refinery when it merged with Amoco in 1998. Soon after, the report said, BP ordered a 25 percent, across-the-budget cut in fixed spending at its refineries. In a preliminary investigation of the accident released in October 2005, CSB said the Texas City plant fostered a culture of bad management and failed to recognize and correct problems.

"The combination of cost-cutting, production pressures and failure to invest caused a progressive deterioration of safety at the refinery," CSB Chairwoman Carolyn W. Merritt said of the latest findings.

In a statement Tuesday, BP said it has accepted responsibility for the accident, worked diligently to provide fair compensation to those injured and to families of those who died, and cooperated fully with the CSB.

"Notwithstanding the company's strong disagreement with some of the content of the CSB report, particularly many of the findings and conclusions, BP will give full and careful consideration to CSB's recommendations, in conjunction with the many activities already under way to improve process safety management," the statement said.

The Texas City explosion occurred when part of the plant's isomerization unit, which boosts the level of octane in gasoline, overfilled with highly flammable liquid hydrocarbons. A geyser of flammable liquid and vapor ignited as the unit started up. Alarms and gauges that should have warned of the overfilling equipment failed to work.