British Petroleum company has already spent over four billion dollars in cash towards compensation for the oil spill. And a rough estimate puts the additional fund requirement at over 15 billion dollars, and that means another ten billion dollars of new cash generation by the company.
Towards that goal in mind, the company has already firmed up a deal to sell some lucrative European and US assets to a US company in the coming weeks. Also it is in talks for selling part of it’s stake in Vietnam oil and gas project to Indian companies.
So expect the company to comfortably generate around ten billion dollars in the coming weeks. The assets being sold could be denting the future earning potential for the company to some extent, but the current problem is far bigger in size and that needs extraordinary actioning. That is what the company is precisely doing.
Over the next two years, we can expect the company to bounce back substantially.