Breaking Down the British Giant: Who Will Buy BP’s Best Assets?

There's no question that some of BP PLC (NYSE ARD: BP )'s assets are on the block. The company said Monday that the total cost of the Gulf oil spill had already risen to $3.5 billion. And while it's too early to estimate the final costs associated with the spill, analysts have pegged the tab at $20 billion to $40 billion. Some even believe the total cost could come in near $100 billion . BP has already paid $165 million to settle individual claims and agreed to set up a $20 billion escrow fund to absorb further damages. It's also suspended its dividend to conserve cash . But that's not enough. With costs soaring, BP said in June that it is looking to raise at least $10 billion through asset sales in the next 12 months. With that the run on BP's assets commenced.