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Archive for November 2nd, 2010
BP oil spill costs to hit $40bn
Posted by Washington Post: Juliet Eilperin on November 2nd, 2010
Guardian: BP said today it expects the cost of the Deepwater Horizon oil disaster to be $7.7bn (£4.8bn) bigger than previously thought, pushing the total bill to nearly $40bn.
The oil giant announced the new charge to cover the cost of the Gulf of Mexico spill alongside its financial results for the third quarter of the year. It blamed the delays that dogged its attempts to seal the leak, along with higher clean-up costs and legal fees.
The new charge knocked BP's pre-tax profits for the third quarter...
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BP ups spill cost estimate by $8 billion as profits dive
Posted by Washington Post: Juliet Eilperin on November 2nd, 2010
Reuters: BP lifted its estimate of the likely cost of its Gulf of Mexico oil spill to $40 billion on Tuesday, denting profits, but its underlying performance beat all expectations on higher refining margins and a lower tax rate.
BP, the world's biggest non-government controlled oil company by production last year, said delays in capping its blown-out well prompted the increased charge for ending the leak, cleaning up the damage and compensating those affected.
The charge, up by $7.7 billion, pushed...