Share Dealing News BP Shares Climb As New Cap Sparks Hope

13 July 2010 / by Rebecca Sargent

Shares in BP continue to climb this morning, following an increase of nine per cent yesterday.

Shares in the international oil company have now broken the 400p barrier following news that the new, tighter cap it is installing in the Gulf of Mexico, may well put an end to the environmental disaster.

It is also rumoured that BP is in talks with US oil and gas company Apache over potential asset sales that could help the company cover the costs related to the largest oil spill in US history.

Testing of the new cap begins today, and it is hoped it will be more successful than the last attempt, despite the fact that the sealing cap system has never before been deployed at such depths under these conditions.

© Fair Investment Company Ltd

Written by Editorial Team