The oil giant BP’s shares have risen because of the rumors that the Middle East investors have bought some stakes in the firm.

The shares of BP have closed up by a hike of 3% at 333.3 points following a report suggesting that the firm is seeking funds from the Middle Eastern sovereign wealth funds.

However, BP has refused to give any comment over this issue. It has said that the company would like to welcome every new investor in such a critical situation.

The oil giant BP has seen a terrible loss and its shares halved in value because of the oil spill disaster in Gulf of Mexico which began in the month of April.

In the latest report the oil giant has said that the oil spill had cost it about 3.12 billion dollars but according to the forecast of the analysts the cost will reach to around 10 billion dollars.

A website named Guardian has reported that the oil giant BP was involved in a talk with the Kuwaiti Investment Authority over the issue to increase its 1.75% stake in the firm.