British Petroleum (BP): Rises 19.34% in 1 Month

British Petroleum

The oil company BP p.l.c. has had a very strong month, rising 19.34%. Despite the fact that BP has had some tough obstacles it has needed to overcome, it’s  proving to be to be a stock people should consider investing in.British Petroleum

The most notable obstacle is that BP is still recovering from its infamous oil spill off the Gulf of Mexico, that occurred way back in 2010.  This month the U.S. Department if Justice has finally reached a settlement with BP, by making the oil company pay $20.8 billion dollars worth of damages. This will force BP to sell off some of its weaker assets.

Normally, in a situation like this, where  a company has to pay off such a huge settlement, the stock would go down. However, while the settlement for the oil spill was the highest in U.S. history, it wasn’t as bad for BP as some anticipated. They have already developed many high assets that won’t need to be sold off. They have also begun to strengthen their operations in China, by colluding with Chinese Oil companies, such as CNPC and China Petroleum and Chemical Corp.

So while BP still has to live in the shadow of their oil spill, the company has made some strong decisions, that give it a bright future.