Saturday, May 29, 2010

BP (NYSE:BP) Cleanup Costs Approaching $1 Billion

Costs to clean up the Gulf leak is approaching $1 billion for BP (NYSE:BP), which so far has spent about $930 million in the effort.

The estimated figures come from a regulatory filing made by the company on Friday.

Included in the figures are damage claims, federal costs, spill response and grants made to states bordering the Gulf.

Focusing on plugging the leaking oil well, BP said at this stage of the process, estimates for all costs are impossible to come to in light of all potential liabilities and cleanup measures.

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