the oil spill in the Gulf of Mexico has also showed that oil companies and their technology are not enough for cleaning up oils spills. And cleaning up oil spill is crucial for the future of our planet and for our own good sake.
Everything indicates that BP Plc will have to dive into its pocket to cover all demands related to the Deepwater Horizon oil spill. On the 25th of February, the Gulf oil spill trial began. It is strongly believed that BP Plc, Transocean Ltd and Halliburton Corp. will have to play hard if they do not want to pay so much.
British Petroleum Plc posted a 72 percent slump in the fourth fiscal quarter profits as the company had to pay a heavy fine and restructuring charges regarding the Deepwater Horizon oil spill. Also a fall in the production of oil and gas led to weak fourth quarter profits.