BP (BP) Seeks Gov't Intervention as Cost of Gulf Spill Escalates
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Price: $43.88 +0.69%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 6.8%
EPS Growth %: +87.1%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 6.8%
EPS Growth %: +87.1%
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BP plc (NYSE: BP) shares are inching higher after starting out down 0.6 percent today.
Headlines from the BBC have BP looking to British prime minister David Cameron to intervene with the U.S. over costs associated with the 2010 Gulf of Mexico oil spill.
Though BP struck a deal with the U.S. last year covering claimants from various parties, a total amount has not been set. BP has put aside some $8 billion to cover costs, but sees business economic loss (BEL) payments rapidly escalating. The company has even called some of the claims "fictitious" and "absurd."
A previous appeal to have payments stopped was overturned and BP may seek to go to a higher court.
BP is down 0.2 percent.
Headlines from the BBC have BP looking to British prime minister David Cameron to intervene with the U.S. over costs associated with the 2010 Gulf of Mexico oil spill.
Though BP struck a deal with the U.S. last year covering claimants from various parties, a total amount has not been set. BP has put aside some $8 billion to cover costs, but sees business economic loss (BEL) payments rapidly escalating. The company has even called some of the claims "fictitious" and "absurd."
A previous appeal to have payments stopped was overturned and BP may seek to go to a higher court.
BP is down 0.2 percent.
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