LONDON (Reuters) - BP will seek to patch up its battered share price by reassuring investors the cost of cleaning up the oil spill in the Gulf of Mexico is manageable and will not affect dividends, British media reported on Wednesday.
The oil major's Chief Executive Tony Hayward will tell investors in a call this week the cost of the clean up -- that has so far spiralled to nearly $1 billion -- can be easily absorbed by cash generated from its operations around the world, the Daily Mail said.
BP's failure to stop the oil spill prompted a plunge in the company's share price on Tuesday and the Obama administration said it opened a criminal investigation.
