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BP to raise $50 bln for oil spill costs: Report

The Sunday Times said BP planned to raise $10 billion from a bond sale, $20 billion from banks and $20 billion from asset sales over the next two years.

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BP is planning to raise $50 billion to cover the cost of the largest oil spill in US history, London's Sunday Times reported without citing sources. 

The paper said BP planned to raise $10 billion from a bond sale, $20 billion from banks and $20 billion from asset sales over the next two years.   

The oil major had said last week that it would suspend dividends and increase the pace of asset sales to $10 billion this year.  

A spokesman for the group would not confirm any numbers on Sunday, when asked about the Sunday Times report.    

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