World Business

BP oil spill costs rise above $3b

(Agencies)
Updated: 2010-07-05 16:11
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LONDON: BP says that it has now spent more than $3 billion in attempts to stop an oil leak in the Gulf of Mexico and to settle damage claims.

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The oil company said Monday that is has spent $3.12 billion so far in responding to the spill, attempting to contain oil, paying claims and reimbursing the US and local governments.

BP says it has spent $147 million settling 47,000 claims for payment — or about half of the claims submitted so far.

The spill began April 20 with an explosion and fire aboard the Deepwater Horizon platform, killing 11 workers.