bp puts total pretax deepwater cost at 616bn
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

BP puts total pre-tax Deepwater cost at $61.6bn

Arab Today, arab today

Arab Today, arab today BP puts total pre-tax Deepwater cost at $61.6bn

Six years after the Deepwater Horizon oil spill
London - AFP

Six years after the Deepwater Horizon oil spill, BP on Thursday estimated the total pre-tax cost of the disaster at $61.6 billion.

In a statement, the oil giant identified "significant progress in resolving outstanding claims" arising from the 2010 Gulf of Mexico accident and oil spill.

An explosion on the Deepwater Horizon oil rig killed 11 men off the coast of Louisiana and caused 134 million gallons (507 million litres) of oil to spew into Gulf waters.

It took 87 days to cap the out of control well some 1,500 metres (5,000 feet) below sea level, and the oil slick stretched across an area the size of Virgina, blackening beaches across five US states and hitting tourism and fishing.

Massive resources were mobilised to clean up the mess, and BP paid out a record $20.8 billion (18.2 billion euros) to settle a swathe of government claims for damages after one of the worst environmental disasters to strike the United States.

BP said it expected to take an after-tax non-operating charge of around $2.5 billion in its second quarter 2016 results, including a pre-tax non-operating charge associated with the oil spill of around $5.2 billion.

"This would bring the total cumulative pre-tax charge relating to the Deepwater Horizon incident to $61.6 billion or $44.0 billion after tax," the company indicated.

BP chief financial officer Brian Gilvary said: "Over the past few months we've made significant progress resolving outstanding Deepwater Horizon claims and today we can estimate all the material liabilities remaining from the incident. Importantly, we have a clear plan for managing these costs and it provides our investors with certainty going forward."

BP added that it had a year ago "reached agreements to settle outstanding federal, state and local government claims arising from Deepwater Horizon. In the months since, BP has made much further progress in resolving outstanding claims arising from the incident."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

bp puts total pretax deepwater cost at 616bn bp puts total pretax deepwater cost at 616bn

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

bp puts total pretax deepwater cost at 616bn bp puts total pretax deepwater cost at 616bn

 



GMT 15:36 2017 Monday ,09 January

Major EU-GCC meeting in Riyadh today

GMT 17:19 2016 Thursday ,22 December

KFMC surgeons remove 28 kg tumor from woman’s uterus

GMT 17:33 2017 Wednesday ,16 August

Damac reports decline in property development sales

GMT 09:16 2018 Monday ,01 January

Seoul leaning towards military measures

GMT 01:05 2017 Wednesday ,20 December

No guarantees on French-German initiative on Ukraine

GMT 21:00 2017 Sunday ,17 September

Saif bin Zayed approves adoption of 'Emirati Reader'

GMT 02:10 2017 Thursday ,05 January

Bahrain Stock Index Drops 3.47 Points

GMT 02:05 2017 Thursday ,28 September

July24th-August23rd

GMT 04:17 2017 Saturday ,11 November

Laulala out to prove All Blacks worth against France

GMT 02:42 2017 Friday ,14 July

NATO Tripoli strike kills civilians

GMT 05:47 2017 Wednesday ,18 January

Mohamed bin Zayed attends opening of ADSW 2017
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday