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BP oil spill clean-up bill hits £7.1bn

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posted on Oct, 1 2010 @ 06:26 AM
The clean-up bill for the Gulf of Mexico oil spill has risen to 11.2 billion US dollars (£7.1 billion), BP said today as new boss Bob Dudley officially takes up the reins.

The firm, which sees Mr Dudley take over from embattled chief executive Tony Hayward, said it had also pledged assets including interests in production from its major Thunder Horse and Mad Dog operations to support a £20 billion compensation fund.

But despite mounting costs for the Gulf of Mexico oil spill, BP cheered investors yesterday after Mr Dudley hinted that dividend payments would resume within months.

Shares in the group were up another 2% today after closing 2% higher yesterday.

Mr Dudley suggested dividends could restart early next year, saying the board would discuss the prospect of paying a dividend in the first quarter.



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