The oil giant BP has proposed to fund for the making of six sand barriers against the coast of the US state Louisiana for the protection of the coast from the huge oil spill. BP which is struggling to clear the damage of the oil spill has decided to cap the damaged well in the Gulf of Mexico which will cost about 360 million dollars.

The sand barriers will join together to form a chain of natural offshore island of about 80 kilometers.

On the other hand the oils slick is nearing to the beaches of North West Florida.

The oil slick containing thousands of tar balls is only 11 kilometers away from the Pensacola on the Florida. Forecasters have said that the oil could reach to the Florida beaches on Friday.

A leading credit rating agency has downgraded the oil giant BP from an AA+ rating company to AA.

Experts have said that the financial and business conditions of BP will continue to decrease because of the oil slick that's why it has been downgraded. US President Barack Obama is paying a lot of attention to clean up the disaster and is pressurizing BP to do that as fast as possible.