BP plc, may declare bankruptcy, after new reports say that the price of each share of the oil company continued to plunge with each passing day of the Gulf of Mexico oil spill.
Report say that the reason that BP is likely to declare bankruptcy is so that they can survive the financial disaster that the company has faced, thanks to the oil spill in the Gulf Of Mexico.
One of the biggest oil companies in the world, BP, has reportedly lost more than 47 percent of its value since the 20th of April – when the Deepwater Horizon oil rig explosion took place, which in turn led to USA’s worst ever oil spill.
Analysts also say that the liability for BP could is likely to reach around $40 Billion before it’s the end of BP.
