BP fined further $2.5bn over Deepwater Horizon spill

BP is to take a further $2.5bn (£1.87bn) hit as a result of the Deepwater Horizon accident, bringing the total cost of the environmental disaster to almost $62bn. The latest after-tax non-operating charge will be taken in the company’s second quarter financial results to be formally announced on 26 July. BP said the charge is expected to include a pre-tax non-operating charge associated with the oil spill of about $5.2bn. This would bring the total cumulative pre-tax charge relating to the Deepwater Horizon incident to $61.6bn, or $44bn after tax.
Read more: https://www.theguardian.com/business/2016/jul/14/bp-fined-further-25bn-over-deeepwater-horizon-spill?source=Snapzu