BP reports massive loss in June 2010 quarter
The Gulf of Mexico has changed the total fortunes of the British Petroleum company in a big way. The company has reported a 17 billion dollars loss in the June 2010 quarter due to the huge charge debited towards the possible oil spill costs.
The company is still in the process of assessing the likely cost of the spill containment and cleanup and related claims from the people in the Gulf coast. The company is now planning to sell another 20 billion dollars worth of assets in the next few months, in order to build the required funds to payout the oil spill costs.