BP is trying to raise $50bn to cover the cost of the Gulf of Mexico disaster, while the oil giant is also preparing to sue a partner in the Deepwater Horizon rig.
The Sunday Telegraph reports BP is readying to take legal action against US firm Anadarko, its main partner in the oil field, for its share of the clean-up costs.
A senior BP source said Anadarko was "shirking its responsibilities", with legal action in the United States is now likely to follow.
Meanwhile, the Sunday Times reports BP is working on a plan to raise $50bn to cover the cost of the oil spill, which would start next week with a bond sale to raise $10bn.
A further $20bn would come from bank loans, with asset sales over the next two years would generate the additional funds.
In addition, the Observer said BP might sell its remaining North Sea interests, plus stakes in dozens of exploration and production projects where it does not have overall control.
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From 1 March