The disastrous Gulf of Mexico oil spill has cost BP $3 Billion for the cleaning work, capping the leakage and paying damages to businesses and governments. Previously BP had to pay $20 billion funds for Gulf damages. The relief wells are being dug in the Gulf but may not work properly due to bad weather forecast.

Smoke was also seen rising from the oil spill site as natural gas was burnt off. After the recent damages bill, BP is now more vulnerable to a takeover by either it’s competitors or by the government. Libya have shown interest in buying BP Shares and it is quite possible for Libya to be a major Stakeholder of BP. Nearly 45,000 employees are working on the oil spill site for clean up purposes.

Since BP had to pay billions of U.S. Dollars for the worst oil spill in the history, BP is now selling fields in different countries to meet the costs. BP shares are expected to fall down very soon as predicted by analysts. The FTSE was seen falling down and the shares of BP were climbing but this trend will short-live.