(yahoo news)
BP spill costs up to $2.65B
NEW ORLEANS – BP's mounting costs for capping and cleaning up the Gulf have reached $2.65 billion, the oil giant said Monday, but the company denied reports out of Russia that CEO Tony Hayward is resigning.
The company's expenses climbed $100 million per day over the weekend, according to an SEC filing Monday, as engineers eyed a tropical storm heading toward Mexico that was expected to miss the area but could still generate disruptive waves and winds.
It was a rocky start to the week after BP PLC stock fall 6 percent Friday in New York to a 14-year low. BP has lost more than $100 billion in market value since the deep-water drilling platform it was operating blew up April 20, killing 11 workers and starting the massive leak that has fouled the coastline in four states.
BP said it had received more than 80,000 claims and made almost 41,000 payments, totaling more than $128 million.
BP says the figure does not include a $20 billion fund for Gulf damages it created this month.
Pretty safe to say no other company could survive with these huge mounting costs. God forbid it take any longer than necessary to cap the well, but what would happen if it took a LOT longer? Could BP ever go bankrupt? And if they did, the governments would have to pay to keep this environmental disaster to the minimum as possible.
BP spill costs up to $2.65B
NEW ORLEANS – BP's mounting costs for capping and cleaning up the Gulf have reached $2.65 billion, the oil giant said Monday, but the company denied reports out of Russia that CEO Tony Hayward is resigning.
The company's expenses climbed $100 million per day over the weekend, according to an SEC filing Monday, as engineers eyed a tropical storm heading toward Mexico that was expected to miss the area but could still generate disruptive waves and winds.
It was a rocky start to the week after BP PLC stock fall 6 percent Friday in New York to a 14-year low. BP has lost more than $100 billion in market value since the deep-water drilling platform it was operating blew up April 20, killing 11 workers and starting the massive leak that has fouled the coastline in four states.
BP said it had received more than 80,000 claims and made almost 41,000 payments, totaling more than $128 million.
BP says the figure does not include a $20 billion fund for Gulf damages it created this month.
Pretty safe to say no other company could survive with these huge mounting costs. God forbid it take any longer than necessary to cap the well, but what would happen if it took a LOT longer? Could BP ever go bankrupt? And if they did, the governments would have to pay to keep this environmental disaster to the minimum as possible.
