The ongoing fallout from the Gulf of Mexico disaster will overshadow BP’s first-quarter results this week, with profits down sharply.
The explosion on the Deepwater Horizon rig three years ago this month cost 11 lives and a potential $90 billion (£60 billion) for BP, which is embroiled in a court case in New Orleans over the disaster. Under chief executive Bob Dudley, BP has sold more than $38 billion of assets to raise funds for the compensation payout while concentrating on its core operations of drilling for and selling oil.[This is Money]
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