BP shares soar on speculation of Middle Eastern interest
BP shares soared in London Tuesday amid growing speculation about Middle Eastern interest in the embattled oil giant and reports that the British government is drawing up contingency plans for a possible collapse or break-up of the company, DPA reported.
BP Plc, the UK company battling aa record oil spill in the Gulf of Mexico, agreed to sell assets in North America and Egypt to Apache Corp. for $7 billion as part of its plans to raise cash to fund its liabilities.