
Oil giant British Petroleum (BP) has put a 61.6 billion-dollar (46 Billion Pound) final price tag on its catastrophic Gulf of Mexico oil spill cost the company.
It is the first time that the company has put a total cost on the Deepwater Horizon disaster.
BP said it expects to spend a total of 44 Billion Dollars (32.8 Billion Pound) after tax deductions are factored in. The new estimate included 5.2 billion dollars (3.8 Billion Pound) in new pre-tax costs.
In 2010, one of the company's deep-sea wells blew out off the coast of Louisiana, leading to the sinking of the Deepwater Horizon drilling rig. Eleven rig workers were killed in the explosions and millions of gallons of oil spewed into the Gulf for 87 days.
BP said the cost estimate included all "remaining material liabilities".
The company has settled the majority of the claims filed against it by companies, local, state and federal governments and individuals, such as scores of fishermen.
It said its new pre-tax $5.2 billion cost estimate covers all outstanding business and economic loss claims stemming from litigation filed by individuals and companies.
In April, a judge approved a 20 Billion dollar (15 Billion Pound) settlement over economic and environmental damage between BP and state and federal governments, one of the largest corporate penalties in US history.
Source: QNA
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:06 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 16:17 2018 Monday ,12 November
Egypt working on 4-year plan to increase growth rateGMT 12:45 2018 Friday ,09 November
Egyptian agriculture products introduced to Japanese markeGMT 11:42 2018 Friday ,02 November
Turkey's new mega airport, boon for slowing economyGMT 13:42 2018 Monday ,29 October
Egypt's trade volume hits $67.63 bln over 9 monthsGMT 15:13 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 14:46 2018 Thursday ,11 October
Economy and energy dominate agenda in Russian-Slovak relationsMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor