- Feb 6, 2010
- Reaction score
- Political Leaning
BP posts $17bn loss after oil spill - Business - Al Jazeera English
Ouch. I cant say I'm stunned but I cant help but feel a small sense of satisfaction. Sloppy business practices rarely cost businesses what it should and in this case, it might cost BP everything.BP has reported a record quarterly loss of $17bn in the wake of a major oil spill that it has been trying to stop for months with limited success.
The company also announced it planned to sell assets worth up to $30bn over the next 18 months and cut its net debt to between $10bn and $15bn in that period.