BP spill disaster costs hit $65bn

BP shares fell the most among European energy companies yesterday after announcing a charge of about $1.7bn (€1.38bn) as part of the Deepwater Horizon disaster’s class- action settlement.

BP shares fell the most among European energy companies yesterday after announcing a charge of about $1.7bn (€1.38bn) as part of the Deepwater Horizon disaster’s class- action settlement.

Cash payments related to Deepwater Horizon in 2018 are now anticipated to be about $3bn, higher than the company’s third-quarter estimate of just over $2bn. The new charge lifts costs to around $65bn.