10 February 2012, 16:31 (GMT+04:00)

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BP due to publish report on Gulf of Mexico oil spill

BP will publish Wednesday an internal report on the causes of the major oil disaster in the Gulf of Mexico following the explosion of an oil rig in April, the company said in London, DPA reported.

Reports said the internal investigation was expected to assign blame to BP as well as other companies involved in the operation. The findings are expected to pinpoint why engineers missed key signs that the well was unstable.

Eleven oil workers were killed following the explosion of the Deepwater Horizon oil rig on April 20. The leaking well was finally plugged in late July after an estimated 4.9 million barrels of oil were released into the Gulf waters.

The crisis cost former BP chief executive Tony Hayward his job after a series of blunders. He will be replaced by Bob Dudley, a top US manager, in October.

BP hopes to sell around 10 per cent of its production assets over the next 18 months in an attempt to raise 30 billion dollars to beef up its balance sheet to meet the crisis.

The company said it has spent 8 billion dollars to contain the crisis. Final costs are estimated to reach more than 30 billion dollars.

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