BP to ask UK government to intervene on Gulf spill payments - BBC
LONDON (Reuters) - British oil company BP (BP.L) wants Prime Minister David Cameron to intervene with the U.S. government over the escalating cost of compensating U.S. companies for the Gulf of Mexico oil disaster in 2010, the BBC reported Thursday.
BP is still fighting a court battle in New Orleans over fines and other potential spill liabilities, but it struck a deal last year with a wide range of compensation claimants, including businesses.
The total amount was not set, and BP has set aside over $8 billion to make the payments, but it now sees those business economic loss (BEL) payments escalating, and is challenging the way they are being calculated - calling some of the claims "fictitious" and "absurd".
It has already lost one appeal to have the payments stopped and now plans to go to a higher court.
(Reporting by Andrew Callus; Editing by Alison Birrane)
- Tweet this
- Share this
- Digg this