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BP Said to Prep Insurance Claim As Costs Rise

Source: Forbes

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Posted on 29 Jun 2010

BP said the costs of cleaning up the Gulf of Mexico oil spill now total $2.65 billion.

The company has received 80,000 claims, and paid more than half of them to the tune of $128 million. A newspaper report in the U.K. Mail on Sunday said BP is going to file claims with Transocean's insurance company. Transocean owned the Deepwater Horizon rig that was drilling for oil at the time of the explosion that led to the spill, and leased it to BP.

But its not all bad news: another U.K. paper, The Sunday Times, reported that BP may be able to stop the leak in the Gulf sooner than it thought, and possibly within two weeks.


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