BP floating financial lifeline to station owners - wave3.com-Louisville News, Weather & Sports

BP floating financial lifeline to station owners

HOUSTON (AP) - Oil giant BP PLC is floating a financial lifeline to the owners, operators and suppliers of the gas stations around America that bear its name and have been struggling because of boycotts prompted by the Gulf spill.

The head of a trade group that represents distributors of BP gasoline in the U.S. tells The Associated Press that the company is in the process of informing outlets that they will be getting cash in their pockets, reductions in credit card fees and help with more national advertising.

John Kleine of the BP Amoco Marketers Association says the cash component will be based on distributors' volume and will be more for outlets in the Gulf than for those elsewhere in the country.

He estimates the total package BP is offering at roughly $50 million to $70 million.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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