Costs related to the Macondo oil spill in the Gulf of Mexico have reached about $4 billion, according to BP (NYSE:BP), which doesn't include the billions they'll place in the escrow fund to be paid out to claimants.
It does include some funds paid out so far though, as BP said the costs of paying out claims has reached $207 million so far.
To put it into perspective, BP generates about $ 6 billion in profits on a quarterly basis, or at least in the last quarter, so in that regard is doing okay, although the profits of the company are sure to plunge in the next quarter; the reason they're looking at selling assets and lining up credit lines to handle unexpected or estimated costs.
BP closed Monday's session at $35.75, down $1.35, or 3.64 percent. The market cap is at about $112 billion, after recently surpassing $121 billion.
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