BP Complaints

Following a meeting with the President of the United States, the BP Board announces an agreed package of measures to meet its obligations …
BP press releases

BP sets up billion compensation fund for oil spill victims
On a day that was all about holding Big Oil’s feet to the fire, a planned 25-minute White House meeting stretched on for hours.
Read more on Toronto Star

BP Said to Agree on Billion Fund for Oil Spill (Update2)
BP Plc tentatively agreed to put about billion over time into a fund to pay damages resulting from the Gulf of Mexico oil spill, with claims administered by the lawyer who oversaw executive compensation under the government’s financial bailout, people familiar with the talks said.
Read more on BusinessWeek

Reid suggests BP pay billion for compensation fund
WASHINGTON — Sen. Harry Reid on Monday called on BP to set aside billion in an escrow fund to pay compensation for damages caused by the oil spill in the Gulf of Mexico.
Read more on Las Vegas Review-Journal

BP Crisis Wipes Billion From Energy Bonds: Credit Markets
June 14 (Bloomberg) — The biggest oil spill in U.S. history has wiped about billion off the value of energy company bonds as investors bet increasing regulation will curb revenue and profits.
Read more on Bloomberg

BP’s Gulf oil spill costs now at .6 billion
NEW ORLEANS (AP) – BP’s costs for responding to the massive oil spill in the Gulf of Mexico have risen to .6 billion. According to a company news release, that includes new million grants the British oil giant has given to Florida, Alabama and Mississippi.
Read more on WXVT 15 Greenville

CS Sees Total BP Oil Spill Cost Up To Billion, To Eat Up 3 Years Of Free Cash Flow, Will Require 10% Rise In Gearing
Some more bad news to BP, and to all those chattering heads that due to BPs tens of billions in cash, any cleanup costs are just a drop in the bucket. Credit Suisse has just come out with a new estimate of total clean up costs and liabilities to BP: the Swiss firm sees BP paying between and billion in clean up costs plus billion of claims. The punchline: ” This would absorb 3 years …
Read more on Zero Hedge

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As ‘Top Kill’ fails, BP spill costs near billion
As BP’s latest attempt to stop the flow of oil from a ruptured well in the Gulf of Mexico failed Saturday, its costs related to the spill began to approach billion.
Read more on CNN Money

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Image by New Orleans Lady

BP says US oil disaster cost one billion dollars
BP revealed Tuesday that the disaster in the Gulf of Mexico had cost it almost a billion dollars, sparking a 13-percent plunge in its shares after the latest attempt to fix the leaking well failed.
Read more on AFP via Yahoo! News

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BP shares drop; costs approach billion
LONDON (AP) — Shares in BP PLC plummeted on Tuesday, wiping billions off the British company’s market value, after the failure of its latest attempt to stop the massive Gulf of Mexico oil spill.
Read more on St. Louis Post-Dispatch

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