BP to Book $1.7 Billion Charge for Deepwater Horizon Claims
January 16 2018 - 2:57AM
Dow Jones News
By Dimitrios Kontos
BP PLC (BP.LN) said Tuesday that it expects to book a $1.7
billion post-tax non-operating charge in its 2017 fourth-quarter
results for claims associated with the Deepwater Horizon
court-supervised settlement program.
The oil company said the court-supervised settlement program,
established as part of the class action related to the Deepwater
Horizon oil spill in 2010, is now approaching its closure.
Cash payments in 2018 related to the Deepwater Horizon case will
be around $3 billion, the company said, compared with its
third-quarter estimate of more than $2 billion.
The charge is fully manageable within BP's existing financial
framework, the company said.
Write to Dimitrios Kontos at dimitrios.kontos@dowjones.com
(END) Dow Jones Newswires
January 16, 2018 02:42 ET (07:42 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
BP (NYSE:BP)
Historical Stock Chart
From Mar 2024 to Apr 2024
BP (NYSE:BP)
Historical Stock Chart
From Apr 2023 to Apr 2024