Tuesday, July 6, 2010

BP (NYSE:BP) Cleanup Costs at $3.12 Billion

Cleanup costs in the Gulf of Mexico have now reache $3.12 billion, BP (NYSE:BP) said on Monday.

Claims against BP are closing in on the 100,000 mark. Of those, BP has made close to 47,000 payments.

To help provide more liquidity in the growing number of claims and liabilities, BP has a number of banks ready to provide them $1 billion in loans each. Available loans are reportedly at about $9 billion at this time, with the strong possibility of more banks entering into deals with the oil giant, which could bring those numbers higher.

BP is also looking to sell off some of their assets to raise another $10 billion.

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