29 June 2010

BP Shares Affected by Storm Alex Comment

BP shares have fallen again today after the company announced on Monday that its oil spill operation might be hampered by the tropical storm Alex.

The company's total costs for the cleanup and all the other facets of the disaster including claims are now estimated at $100 million each day.

BP shareholders have been affected not just by share prices in the company falling by half this year, but by the fact that dividends will now not be paid out this year.

Around 80,000 claims have been made over the oil spill which began on April 20.

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