BP’s US oil spill cost surges to $8bn so far

03 September 2010 15:48  [Source: ICIS news]

TORONTO (ICIS)--The price tag for BP’s massive US Gulf of Mexico oil spill has jumped by almost $2bn, to $8bn (€6.2bn) to date, as costs continue to soar, the UK-based international oil and chemicals major said on Friday.

In an earlier update on 9 August BP reported that oil spill costs had risen to $6.1bn to date.

The $8bn included all costs incurred to date in fighting the oil spill, relief well drilling, as well as claims already paid, the company said.

In June, BP announced the creation of a $20bn escrow account to satisfy certain obligations arising from the largest oil spill in US history.

BP said that no new volumes of oily liquid had been recovered since 21 July and the last controlled burn operation occurred on 20 July.

Throughout the response, skimming operations recovered a total of over 826,000 bbl of oily liquid and a total of 411 controlled burns had been carried out, removing an estimated 265,000 bbl of oil from the open water, the company said.

BP added that some 28,400 personnel, more than 4,050 vessels, and dozens of aircraft remained engaged in the oil spill response effort.

($1 = €0.78)

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By: Stefan Baumgarten
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