A $54 Billion Reputation
BP plc delivered the worst of a poor set of quarterly results among top oil companies on Tuesday, slashing $US5 billion off the value of US assets and undershooting expectations with its operating result. The British oil company is struggling under the weight of litigation over the 2010 US Gulf oil spill…bringing the total set aside for the disaster to $US38 billion or well over two years worth of profits at current prices.1
—Canberra Times (31 July 2012)
For more than a century, BP (NYSE: BP) has been one of the world’s giant oil producers. The company was founded in 1901 when a lawyer-turned-mining-and-mineral-tycoon ...
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