BP directors face making a crucial decision about what to do with the oil giant's dividend on Monday after US President Barack Obama sought to smooth over transatlantic tensions around the firm's disastrous Gulf of Mexico oil spill.
BP's board will meet to discuss the option of suspending the latest tranche of a £7 billion payout to shareholders as a consequence of the environmental catastrophe.
After mounting British concerns over Mr Obama's scathing criticism of the firm, the US leader spoke to Prime Minister David Cameron during a 30-minute phone call on Saturday and told him his comments were "nothing to do with national identity".
The two men also reaffirmed their belief in "the unique strength of the US-UK relationship", and Mr Obama made clear that he recognised that BP was a global company, according to a statement released by 10 Downing Street.
Mr Cameron expressed his "sadness" at the continuing human and environmental damage being done by the tens of thousands of gallons of oil leaking from the Deepwater Horizon rig, following a blow-out on April 20. The Prime Minister and President agreed that BP should continue to ensure that "all sensible and reasonable" steps are taken to deal with the disaster.
The oil giant has come under fierce US pressure to postpone its latest dividend payment so bosses can concentrate on cleaning up the oil spill. But such a move could deal a big blow to pensions in the UK, as BP is estimated to account for £1 in every £7 of dividends paid to British shareholders.
