BP comes out of the list of 20 companies most valuable in the world
The company has lost nearly 50% of its value in the stock market since the beginning of ecological disaster. Like its oil rig Deepwater Horizon, BP is sinking on the stock exchange. The company is no longer part of the list of 20 listed companies with largest market capitalization in the world and has lost 63 billion euros in market value since the explosion of Deepwater, in April 20th. At the time of the disaster, the British firm occupied the 20th place as the most valuable listed company globally, according to a Forbes list. Worth 140 750 million euros (123 billion pounds).
In less than two months, BP gave 21 seats in the 'ranking' of the largest listed companies globally, according to Economic Daily calculations based on data from Bloomberg. Now worth 77 830 million euros (64.3 billion pounds). Besides the oil slick off the bag, the oil company yesterday suffered a serious warning by an agency 'rating. “Fitch lowered the credit note on the company's six levels of AA to BBB, just two notches above the Junk status. The analysts justified the cuts with claims that that BP will have to pay. They believe the company will suspend dividend payments to meet the demands of the White House to force the oil to put a significant amount of money aside to be used in future compensation.
The invoice of what is considered the largest environmental disaster in U.S. history raises fears about the future of BP, with several experts to come up the possibility of bankruptcy. And the numbers are not encouraging. The investment houses like Morgan Stanley and Standard Chartered, estimate that the total bill for the disaster BP exceeding 30 billion euros. The number represents 40% of current market value of oil.
The disaster is no end in sight and with so many technology available today, we still watch a donkey environmental. BP should be required to pay any global environmental projects within the cleaning, preservation and regeneration in those areas.
In less than two months, BP gave 21 seats in the 'ranking' of the largest listed companies globally, according to Economic Daily calculations based on data from Bloomberg. Now worth 77 830 million euros (64.3 billion pounds). Besides the oil slick off the bag, the oil company yesterday suffered a serious warning by an agency 'rating. “Fitch lowered the credit note on the company's six levels of AA to BBB, just two notches above the Junk status. The analysts justified the cuts with claims that that BP will have to pay. They believe the company will suspend dividend payments to meet the demands of the White House to force the oil to put a significant amount of money aside to be used in future compensation.
The invoice of what is considered the largest environmental disaster in U.S. history raises fears about the future of BP, with several experts to come up the possibility of bankruptcy. And the numbers are not encouraging. The investment houses like Morgan Stanley and Standard Chartered, estimate that the total bill for the disaster BP exceeding 30 billion euros. The number represents 40% of current market value of oil.
The disaster is no end in sight and with so many technology available today, we still watch a donkey environmental. BP should be required to pay any global environmental projects within the cleaning, preservation and regeneration in those areas.
AC
