A report from the New York Times mentioned that the current massive oil leak in the Gulf of Mexico could make British energy giant BP vulnerable to a takeover. Royal Dutch Shell and Exxon Mobil are almost certainly running the numbers.
Since the April's incident, investors have wiped as much as $46 billion off the company’s market value. At $141 billion on Thursday, BP’s market capitalization is half of Exxon’s and less than the $165 billion value of Shell, which has traditionally traded at a discount to BP. A separate report from the Channel News Asia pointed out that BP's response costs linked to the huge Gulf of Mexico oil spill have risen to about US$930 million. This figure is expected to increase further.
Cost of cleanup, investors offloading BP's shares and antitrust implications to come is certainly going to take a big hit on BP financial status.
Good luck to BP.
Computer, Technology, Databases, Google, Internet, Mobile, Linux, Microsoft, Open Source, Security, Social Media, Web Development, Business, Finance
Subscribe to:
Post Comments (Atom)
-
Google url shortener service, goo.gl , is now much improved with newly included features like easier copy and paste, and ability to delete e...
-
Well said :) And that is precisely my point. I would like politics in Singapore to be about the candidates and their views and their compe...
-
If you have been reading the mainstream media or the social media, it is likely that you would have heard of SimplyGo - an initiative by the...
-
Installed FortiClient recently but the challenge in disabling the application/service from running automatically on every start-up annoyed m...
-
ActiveSG is a national initiative from the Singapore government to encourage all to stay healthy and keeping fit. Membership registration i...
No comments:
Post a Comment
Do provide your constructive comment. I appreciate that.