BP Raises Deepwater Horizon Spill Liability by $5.2 Billion
- Company says any further claims won’t have a material impact
- Total libility from 2010 Macondo spill raised to $61.6 billion
CHANDELEUR ISLANDS, LA. - MAY 7: Members of the National Wildlife Federation look over the edge of their boat while surveying the oxidized oil on May 7, 2010 off of the Chandeleur Islands, Louisiana. The oil is being broken up by chemical dispersants and is drifting throughout the Gulf of Mexico.
Photographer: Jason Andrew/Getty ImagesBP Plc has raised the total liability from the Deepwater Horizon oil disaster, which triggered the worst offshore oil spill in U.S. history, by $5.2 billion to $61.6 billion before tax.
The London-based company expects to take a $2.5 billion after-tax charge in its second-quarter earnings following “significant progress” in resolving outstanding claims, it said in a statement Thursday. Any further payments related to the 2010 incident that killed 11 workers and spewed millions of barrels of crude into the Gulf of Mexico won’t have a material impact on financial performance, it said.