Oil and gas major BP wants Prime Minister David Cameron to intervene over escalating compensation costs in the US over the Gulf of Mexico oil disaster in 2010, according to the BBC.
Concerns over the firm’s financial recovery have reportedly been raised, as fears rise that the US compensation system is being abused.
The BBC’s business editor, Robert Peston, said: “According to BP sources, the rate at which cash is leaking from the company could turn into a serious new financial crisis for the company, putting at risk its dividend and making it vulnerable to a takeover by another oil company.
“BP is so worried by the potential magnitude of alleged undeserved payments it is making to companies that it is planning to ask the UK prime minister and chancellor for help in persuading the US government to intervene.
“It is hopeful that David Cameron will raise the issue at the G8 meeting of the government of the world’s richest countries, which the UK is hosting next month.”
Recommended for you
