BP should be able to meet the cost of up to $18 billion of new fines for the 2010 Gulf of Mexico oil spill without major asset sales or a big cut in its dividend, analysts say. The oil group’s shares dropped nearly 6 percent on Thursday after U.S. District Judge Carl Barbier in New Orleans, Louisiana, said it was “grossly negligent” in the April 20, 2010, rig explosion and spill that killed 11 workers. However, BP said it would appeal the ruling, meaning any decision on indemnities could be years away. “The headline is obviously negative, but BP will appeal and the appeals process is likely to be dragged out for years,” said Bernard Hodee, analyst at Raymond James, which kept its rating on BP shares unchanged at “fair value”. BP has set aside only $3.5 billion for fines under the Clean Water Act, part […]