BP takes profit hit from oil spill clean-up

Production for the quarter was 11% lower than a year earlier and offset a further rise in oil prices over the period, the Press Association reports. The asset sale has been taking place to meet the £25bn cost of the clean-up operation following the explosion on April 20 2010, which killed 11 men and caused the biggest offshore oil leak in history. BP restored its quarterly dividend when it last updated the market in February and said today it would pay seven cents a share to investors in June for Q1. The catastrophe in the Gulf caused BP to plunge to its first full-year loss in 20 ...