After the proposals put forth by the US Senators claiming that BP has placed $20 billion in an escrow account, for the effects of the oil spill in the Gulf of Mexico, the shares of the oil giant slid 4%, toady morning.

However, President Obama has not yet disclosed the amount he expects the Company to set aside for the oil spill impacts. It is believed that he will introduce the plans in speech, tomorrow.

Indicating the amount, the Democratic Senators said that they expect it to be $20 billion or £13.6 billion.

The proposed plan, for making BP pay the money, have been designed because it is observed that the board of the Company is intending to safeguard the £1.75 billion dividend by making it the escrow.

A meeting will be organized by the BP Directors in order to decide on the second-quarter dividend payments. It will be discussed whether or not the payments will be changed to fund the clean-up operation and the claims of compensation.

In early trading, the shares declined 15.75p pence to 376.95p.

Tomorrow night's speech will prepare the citizens for the decision of the administration over the environmental disaster, in the Gulf of Mexico and the possible effects of the same.

In the speech Mr. Obama will sympathize with people whose livelihoods suffered due to BP oil spill and will also direct actions for the cleaning it up, along with the payment expected by the Company for cleaning the spill.