Crumbling share prices a big issue for BP

BP shares fell by 9.30 percent at the London Stock Exchange amidst reports that BP may not be paying a dividend to its investors this quarter in order to raise capital for the cleanup operations in the Gulf of Mexico.

Amidst pressure from the Obama administration, BP officials announced that they are going to increase the volume of the oil being captured from the leak. According to BP officials, it is eatimated that BP would increase oil capturing to 40,000-53,000 barrels a day from the current 15,000 barrels a day by the end of the month. BP is also expected to capture 60,000-80,000 barrels a day by mid-July.

According to reports from eminent US scientists, more oil is gushing out from the well than previously estimated. This has led to increased pressure on BP to come up with a new containment plan.

BP is facing a crisis both in real as well as the stock market. It's shares have plunged more than 40 percent since the start of the crisis.

It is time for BP to come up with a solution that would ease out its current situation and also enable it to put faith in the minds of the investors.