LONDON (Reuters) - Oil giant BP (BP.L) extended falls and was down more than 10 percent on Monday afternoon, with traders citing worries about its dividend, as it faces a massive bill to clean up an oil spill in the Gulf of Mexico.
At 1442 GMT, BP was down 10 percent at 352.65 pence and down more than 46 percent from a mid-April peak.
The company’s board was set to meet on Monday, to consider whether it can still pay its second-quarter dividend. The costs of putting the spill right, and compensation, will run into billions of pounds, analysts say.
Reporting by Brian Gorman