| inbluevt | Date: Tuesday, 2013/07/30, 8:32 AM | Message # 1 | DMCA |
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BP has revealed that there is just $300m left in its Gulf of Mexico oil spill compensation fund after costs jumped $1.4bn (£913m) in the second quarter of the year.
The company raised its estimate of compensation claims for the last three months to $9.6bn from $8.2bn on Tuesday, and warned the total was ultimately likely to be much higher as further claims were received and processed. It also reported profits for the period which were sharply below expectations.
"There are a significant number of business economic loss claims which have been received but have not yet been processed, and further claims are likely to be received," the company said.
BP set aside a total $20bn fund to deal with compensation claims following the explosion and sinking of the Deepwater Horizon oil rig, which claimed 11 lives. On Tuesday it increased its overall provision for the disaster to $42.4bn from $42.2bn.
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Message edited by inbluevt - Tuesday, 2013/07/30, 8:33 AM |
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