BP Spending a fortune on cleaning costs
BP has announced that it will be spending a huge budget of more than $32 billion for cleaning cost of Mexican gulf oil spill. It is more than expected.
Company is on the verge of crossing red line this quarter of year due to massive costs involved in cleaning. Amount has already crossed $17 billion mark.
Chairman of BP Carl Henric Svanberg has confirmed stepping down of Company’s CEO Tony Hayward in October. Carl will take over in October with a package worth $10 million.
Despite its dwindling shares, Mr. Svanberg said that company is still in good shape and will sail through this crisis towards bright future.
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Posted by MatthewMiller on Jul 27 2010 Filed under America. You can follow any responses to this entry through the . You can leave a response or trackback to this entry
