BP has been holding its conference call for investors, aimed at reassuring them about the group’s financial position, in spite of the huge cost of its massive oil spill in the Gulf of Mexico, already the largest ever in US waters.
Carl-Henric Svanberg and Tony Hayward, BP’s chairman and chief executive, have been speaking, and the message is pretty clear: the dividend should be OK, but they are making no promises.
It was a happy accident of timing that, simultaneously with the investor call, the US authorities have reported some initial success with the containment cap over the top of the leaking well, but it is still too early to say how effective that cap has been. The success of that cap could well determine the outlook for the dividend.




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