BP sets aside $2.1bn for Texas City legal fees

04 March 2008 20:48  [Source: ICIS news]

HOUSTON (ICIS news)--UK petroleum giant BP has increased a legal fund by 31% to $2.1bn (€1.4bn) in order to address lawsuits arising from a refinery explosion in Texas City, Texas, according to a regulatory filing made on Tuesday.

The 23 March 2005 blast in Texas City killed 15 workers and injured 180 others.

So far, the company has reached more than 2,000 settlements, according to the company's annual report, filed with US regulators.

Several claims remain unresolved, BP said in the filing.

($1 = €0.66)

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By: Al Greenwood
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