Open

Coming up

Don't miss

Replay


LATEST SHOWS

REPORTERS

Exclusive: an unlikely victim of the 'War on Terror'

Read more

FASHION

Paris, Haute Couture Fall/Winter 2014-2015.

Read more

AFRICA NEWS

2014-07-11 21:47 AFRICA NEWS

Read more

MEDIAWATCH

Finally, a good use for new app "Yo"

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014 (part 2)

Read more

THE WORLD THIS WEEK

The World This Week - 11 July 2014

Read more

#THE 51%

Sweden: A Feminist's Paradise?

Read more

FRANCE IN FOCUS

Politics: parties under pressure

Read more

FOCUS

In Burma, the rise of radical Buddhism

Read more

  • The third-place playoff: the World Cup game no one wants to play

    Read more

  • Hamas and Israel sustain fire despite missed targets

    Read more

  • France’s Kadri wins eighth stage at Tour de France

    Read more

  • Legal challenge to French mayor’s ban of Muslim hijab on beach

    Read more

  • Last of the Ramones, Tommy Ramone, dies aged 62

    Read more

  • Video: Outrage in wake of deadly Casablanca buildings collapse

    Read more

  • Iraqi forces ‘executed prisoners in reprisal’ for ISIS killings

    Read more

  • Ukraine promises retaliation after rebel assault

    Read more

  • Putin revives old Cuban flame and eyes Latin American minerals

    Read more

  • Kerry holds all-night talks with Afghan presidential rivals

    Read more

  • Amazon snubs French free delivery ban with one-cent charge

    Read more

  • Cleveland's NBA fans hail 'return of king' LeBron James

    Read more

  • Exclusive: an unlikely victim of the 'War on Terror'

    Read more

  • Magnitude 6.8 quake, small tsunami hit east Japan

    Read more

  • Suspect in Brussels Jewish Museum shooting drops extradition appeal

    Read more

Business

Troubled BP mulls split in wake of Gulf disaster, British media say

©

Text by News Wires

Latest update : 2010-07-18

Oil giant BP may split up by scaling back its US operations and selling off refineries and petrol stations in the wake of the Gulf of Mexico oil spill and the ensuing uphill battle to rebuild its reputation, British media report.

AFP - Oil giant BP could split itself up by scaling back its US operations and selling refineries and petrol stations in the wake of the Gulf of Mexico oil spill, Britain's Sunday Times newspaper reported.
   
The troubled British-based firm is facing a battle to rebuild its reputation following the worst environmental disaster in US history, which may now have been contained following the capping of a ruptured oil well.
   
Directors of the firm are at an early stage of canvassing shareholders about possible options, which include increasing the amount of in-house engineering which takes place, rather than outsourcing it, the paper said.
   
"BP seems to have accepted that it will be a smaller business. It is prepared to consider anything," an unidentified investor told the Sunday Times.
   

Some investors are also now reportedly considering whether chief executive Tony Hayward, who faced heavy criticism for a series of public relations blunders during the crisis, could stay on, despite previous calls for him to quit.
   
The Mail on Sunday reported that BP's board would meet Thursday to decide on the first in a series of asset sell-offs.
   
BP has so far spent at least 3.5 billion dollars dealing with the spill, and compensation claims could eventually cost 10 times that amount.
   
A spokesman for the firm declined to comment.

 

Date created : 2010-07-18

  • GULF OF MEXICO

    No sign of new leaks in capped oil well, BP says

    Read more

  • GULF COAST

    Oil chiefs say BP spill was 'preventable'

    Read more

  • USA

    Senate to probe BP's role in release of Lockerbie bomber

    Read more

Comments

COMMENT(S)