Russian President, Dmitry Medvedev has raised doubts over the future of BP, stating that the oil giant might have to face extinction after the Gulf of Mexico oil spill.

In an interview with the Wall Street Journal, he explained the spill as a wake-up call, and said optimistically that BP can carry the load of all the losses.

BP, which says its funds are sound and well in place, has agreed to put aside $20bn, so as to recompense victims of the oil spill.

The firm's share price has also been chopped, ever since the spill started.

Whether the corporation can absorb those expenses or whether they will guide to the extinction of the firm or its disintegration - is a matter of pragmatism. The entire questions will be answered with time.

BP has said that it continues to execute well, with cash flow that is anticipated to surpass $30bn in 2010 before taking into thought the costs, which are connected to the Deepwater Horizon spill.

On Thursday, BP Boss, Tony Hayward was interrogated by the U.S. Congressmen, who put accusations on the Company of astounding complacency in ignoring hazards, when drilling in the Gulf of Mexico.

BP has settled to reimburse $5bn into the recompense fund this year, followed by periodical payments of $1.25bn until the sum $20bn is paid.