BP p.l.c. , Europe's largest oil company, has spent $ 1,000,000 a week of advertising in the wake of the Gulf of Mexico oil spill in an attempt to repair its badly damaged public image.
That figure includes radio and TV ad buys. BP is expected to detail their expenses post-stroke in his testimony before the House Energy and Commerce Committee on Monday.
Both companies have suspended dividends this year in an effort to save cash for spill-related expenses.
BP Internal Report Looks Like Bad News, The report does say that BP is, at least in part, repsonsible for the explosion, but Transocean (NYSE: RIG), the rig's owner, also shares some responsibility, the report said.
By the way, BP CEO Bob Dudley says BP officials will meet with representatives of Alabama Governor Bob Riley and Attorney General Troy King on Monday to discuss the state's $148 million claim against BP for the Gulf oil spill.