BP Losing $22 Billion in Legacy of Failed Buyback
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Add $22 billion and counting to the loss for BP Plc from the Gulf of Mexico disaster.
The sum represents the hole after the 53 percent plunge in BP shares since the Deepwater Horizon exploded and sank, resulting in the worst oil spill in U.S. history. BP bought back more than $37 billion of its stock in a bid to return money to investors between 2005 and 2008. Those shares are now worth $15 billion, excluding dividends.