The British Petroleum company makes over three billion dollars of cash every quarter and it ended up marking over 32 billion dollars towards the Gulf of Mexico oil spill costs in the latest quarter ended June 30th 2010.
The company is planning to sell lucrative assets spread across US, Europe and Africa to various companies and generate up to 25 billion dollars. That exercise may take three to four quarters, and the balance money is expected to be made out of internal generation.
The company has officially announced the successful sealing of the well as part of the static kill operation, wherein heavy mud and cement have been pumped down at heavy pressure from the top of the leaking well. The process would be totally complete in the next two weeks, when the bottom kill operation is carried out through one of the relief wells being dug near the leaking well.
BP oil spill costs 32 billion for the company