BP yesterday announced that it will take a $1.7bn additional charge on Deepwater, bringing the total bill to $65bn. The latest $1.7bn post tax non-operating charge will be booked in the Q4 17 accounts. The cash outflow is also expected to be higher than expected at $3bn this year vs $2bn previously. The charge results primarily from significantly higher claims determinations issued by the CSSP in the fourth quarter and the continuing effect of the Fifth Circuit’s adverse May 2017 ruling
17 Jan 2018
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More charges on Macondo
BP p.l.c. (BP:LON) | 526 3.7 0.1% | Mkt Cap: 88,504m
- Published:
17 Jan 2018 -
Author:
Alexandre Andlauer -
Pages:
2
BP yesterday announced that it will take a $1.7bn additional charge on Deepwater, bringing the total bill to $65bn. The latest $1.7bn post tax non-operating charge will be booked in the Q4 17 accounts. The cash outflow is also expected to be higher than expected at $3bn this year vs $2bn previously. The charge results primarily from significantly higher claims determinations issued by the CSSP in the fourth quarter and the continuing effect of the Fifth Circuit’s adverse May 2017 ruling