Oil industry pledges to review offshore drilling practices

"The goal is to improve offshore operations as best we can," said Erik Milito, director of upstream and industry practices at API.

Here’s more from the release: “Among other things, the offshore equipment task force, which will bring together equipment manufacturers, industry subsea equipment specialists and deepwater contractors, will focus on maintenance, response and testing of blowout-preventer equipment and remotely operated vehicles (ROVs). The offshore operating procedures task force will leverage the expertise of offshore operators and members of the service sector to strengthen practices related to drilling and completion of deepwater wells. API looks forward to government participation on both task forces.”

Several congressional committees plan to hold hearings on the massive spill, which is pumping around 5,000 barrels of oil a day into the Gulf.