US President Barack Obama called for BP to set up an escrow account to pay for claims related to the massive oil spill while on his fourth visit to the Gulf of Mexico on Monday. Obama will meet with BP chairman Carl-Henric Svanberg on Wednesday.
US President Barack Obama told British Prime Minister David Cameron in a telephone conversation Saturday that his response to BP's management of the oil spill crisis in the Gulf of Mexico was not meant to "undermine" the company's value.
Oil giant BP's response to a collapsed rig spewing oil into the Gulf of Mexico is expected to dominate telephone talks on Saturday afternoon between US President Barack Obama and British Prime Minister David Cameron.
BP considered suspending payments to shareholders and placing $1.7 billion in expected second-quarter dividends in an escrow account as estimates of the amount of oil leaking from a collapsed rig doubled to around 40,000 barrels a day.
BP may cut dividend payments to shareholders due to the Gulf of Mexico oil spill, and place the expected 1.7 billion dollars in an escrow account. US experts say the spill may be twice as big as previously thought.
President Barack Obama and senior administration officials will meet BP Chairman Carl-Henric Svanberg on June 16 amid mounting public anger over the massive Deepwater Horizon oil spill in the Gulf of Mexico from one of the company's wells.
US President Barack Obama met Thursday the families of the 11 workers killed by the Deepwater Horizon oil rig explosion in the Gulf of Mexico to offer his condolences. The April 20 blast went on to cause the worst oil spill in US history.