Posted by admin | Posted in Environmental News | Posted on 05-07-2010
Shareholders in British oil company BP balked at reports it would seek urgent investment from a wealthy Middle East or Asian country as clean-up costs for its U.S. oil spill topped $3 billion. Over the weekend, while U.S. Independence Day holidaymakers shunned Gulf of Mexico beaches tarred by the leaking well, media reports said BP was looking for a strategic investor among the sovereign wealth funds of the Middle East and Asia. An investor would help ward off a takeover and raise funds for the liabilities racking up behind the worst oil spill in U.S. history, the reports said.
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BP eyes stake sale as spill cost tops $3 billion
