BP BP Plc

By Tapan Panchal 

LONDON -- BP PLC said Thursday that it will record a further $2.5 billion charge to resolve all remaining claims arising from the 2010 Deepwater Horizon accident.

The oil company intends to record the new after-tax nonoperating charge in its second quarter results.

"Over the past few months we've made significant progress resolving outstanding Deepwater Horizon claims, and Thursday we can estimate all the material liabilities remaining from the incident," BP Chief Financial Officer Brian Gilvary said.

"Importantly, we have a clear plan for managing these costs and it provides our investors with certainty going forward," Mr. Gilvary added.

BP expects to use proceeds from divestments to meet the Deepwater Horizon costs.

Write to Tapan Panchal at tapan.panchal@wsj.com

(END) Dow Jones Newswires

July 14, 2016 13:49 ET (17:49 GMT)

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