BP raises £33bn to cover spill cost
The firm's directors are said to have approved a scheme last week to raise the money to try to ensure they have enough reserves to cover any claims as a result of the disaster, according to Sunday newspaper.
The figure is more than double the $20bn (13.5bn) that the group has already agreed to pay into a compensation fund for those affected by the spill, although analysts have warned that the final cost could be as much as $100bn (67.5bn).
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Hide AdBP is expected to start raising the cash within a few days through a $10bn (6.75bn) bond sale.
The company is also understood to be in talks with banks to raise a further $20bn loans, with another $20bn raised through assets sales during the coming two years.
It has already scrapped dividends until the end of the year to help pay for the clean-up.
BP declined to comment on the report, but pointed out that its chairman Carl-Henric Svanberg had said last week that the company needed to have "an unusually strong cash position".
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Hide AdThe group was also reported to be preparing to take legal action against one of its partners Anadarko Petroleum, after it said it would not cover any of the cost of the clean-up operation.
BP owns 65 per cent of the ruptured well, while Anadarko has a 25 per cent stake, with Japanese group Mitsui holding the remaining 10 per cent.
Anadarko's chairman and chief executive Jim Hackett said BP's actions probably amounted to "gross negligence or wilful misconduct" and it should foot the whole damage bill.
BP chief executive Tony Hayward has said he "strongly disagreed" with the allegation and expected the firm's partners to "live up to their obligations".
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Hide AdAnother weekend report claimed the group was now preparing to sue Anadarko for its share of the clean-up costs, although a BP spokesman said no decision had yet been taken.
It is not yet clear whether Mitsui will meet its share of the bill.
Meanwhile, Mr Hayward found himself at the centre of controversy again this weekend after he was seen yachting off the Isle of Wight.
He continues to face heavy criticism from the US for his response to the crisis.
The group is now capturing some 25,000 barrels a day, which are being sold with the proceeds going to wildlife charities.