Friday, June 18, 2010

BP to cut capex, sell assets for $20bn payout

Tip of the iceberg. The Chicago shakedown is going to leave BP much less able to fund a share of the Alaska Gas Pipeline.

From UpStream Online: BP will slash its capital spending budget, sell $10 billion in assets and drop its dividend to pay for a $20 billion spill response fund.

File this one under "Crazy random occurrences 5000 miles away the screw your project into oblivion"

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