BP said the oil spill in the Gulf of Mexico had already cost it $1.6 billion and that it would begin operating an additional mechanism to capture more crude from the leaking well in the coming days.
London-based BP said in a statement on Monday that 51,000 damages claims had been submitted and that more than 26,500 payments, worth over $62 million, had been made.
The $1.6 billion includes only $60 million of $360 million the oil major has committed to building barrier islands off the Louisiana coast.
(Editing by Louise Heavens)
Copyright 2013 Reuters. Click for restrictions.
Sarah says: 
Serge Strong says: 
Matt Lauer says: 
BP Oil Spill Claims Chief Braces for Surge in Filings
N.Y. Regulator Issues ‘Cease and Desist’ Order to Car-Sharing Firm RelayRides
Tornadoes Spin Through Texas Towns After Dark, Killing Six
U.S., European Retailers Divided on Safety Plan for Bangladesh Factories
Government to Share Cyber Security Information with Private Sector
50 Top Apps for Independent Agents
Medical Liability Market Profitable But Deteriorating Results Expected: Fitch
Three Insurance Companies Placed in Liquidation in Illinois
Sign up to receive insurance news alerts!
