BP Plc (NYSE: BP) estimated that costs from the 2010 Deepwater Horizon accident and oil spill in the U.S. Gulf of Mexico will total $61.6 billion, or $44 billion after tax.
An after-tax nonoperating charge of about $2.5 billion will be taken on the second-quarter 2016 results. This charge will likely include a pre-tax nonoperating charge of about $5.2 billion associated with the oil spill, the company said July 14.
Any further outstanding Deepwater Horizon-related claims not covered by this additional charge will not materially impact BP’s financial performance, the company said.
In 2015, BP reached agreements to settle outstanding federal, state and local government claims arising from the incident.
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