Worries Over Russian Assets Cloud BP's Post-Spill Comeback | Business | The Moscow Times

Worries Over Russian Assets Cloud BP's Post-Spill Comeback | Business | The Moscow Times:



"In the two months after April 20, 2010, when an explosion at the Deepwater Horizon oil rig in the Gulf of Mexico caused the worst offshore oil spill in U.S. history, BP shares lost nearly two-thirds of their value as the scale of the disaster threatened to sink the company.



BP sold $40 billion worth of prime assets to stay afloat — and spent $42.5 billion on the spill clean-up, fines and provisions for future costs.



As part of that sell-off, BP extracted about $12 billion from the company's troublesome Russian investment, THK-BP. Of that, it has given about $8 billion of it back to shareholders."



'via Blog this'