BP's Woes Mount

The U.K. media is continuing to speculate on the future of BP, following the oil spill in the Gulf of Mexico. The Times newspaper reports today that the UK government is drawing up contingency plans for a possible collapse of BP as fears mount that it will be broken up or taken over. ExxonMobil and Royal Dutch Shell are tipped as the most likely candidates to acquire the company. UK prime minister David Cameron and Chris Huhne, the energy secretary, are due to discuss BP's future with US officials in Washington on July 20th. These reports follow speculation that...

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