Tuesday, June 22, 2010

BP (NYSE:BP) Gets $51.4 Million Bill from Government

BP (NYSE:BP) was billed the largest amount by the U.S. government since the Deepwater Horizon oil rig explosion, this time an additional $51.4 million, although the Obama administration said others were named as parties to pay the bill, although they weren't identified.

To date, the government has billed BP $70.9 million for the duration of the oil spill.

As far as the unnamed parties, they're not too difficult to identify, as Anadarko Petroleum (NYSE:APC) and Mitsui, a Japanese oil company, were the co-owners of the oil well now leaking, with Anadarko owning 25 percent, and Mitsui 10 percent. BP owns the other 65 percent.

Although it is would be assumed the money would be taken from the $20 billion escrow fund for cleanup expenses and other claims, it wasn't clear that was the case, and the additional companies billed add uncertainty as to if that is the case.

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