Last year the claims made by the Chief Executive Officer of BP Tony Hayward at the centenary of the oil boring firm about the company's existence on the frontlines of the oil market have all gone in vain with severe damages inflicted to the company due to the Gulf of Mexico spill which has jeopardized the theoretically worthwhile certificate by which the company could drill oil in the shoreline of Greenland.

The company has already started indulging in sell offs of its possessions in various parts of the world in order to compensate for the loss incurred in the spill.

Many experts are of the view that the costs involved in the cleaning-up process and the litigations etc. might even go beyond the $30 billion that the company plans to gather by the various sell-offs though the company has saved itself from some of the very critical environment pollution circumstance like the east coastline being swept away by the oil.

The business prospects of the company are facing serious challenges as the drilling projects which were scheduled to be started in the North Sea and Libya have also been postponed and the huge offshore operations in US continues to be clouded by a tensed atmosphere.