BP in counting game as it pays for oil spill

Buenos Aires News.Net
Tuesday 4th May, 2010

The British Petroleum company is taking a financial hammering in its struggle to stem the flow of oil into the Gulf of Mexico.

Following the destruction of an oil drilling rig in the area which bounds the US coastline, BP has been forced to make reparation for one of the greatest environmental disasters ever to hit the US.

BP has said its efforts to plug the oil leak is costing 4.5 million euros a day.

The company will immediately give 25 million dollars to each of the four coastline states effected: Louisiana, Mississipi, Alabama and Florida.

Since the spill, there has been more opposition to White House plans for more offshore drilling around the US.

The governor of California, Arnold Schwarzenegger, has already reversed his decision to push for more drilling off the coast of his state.

25 billion euros has been wiped off the value of BP shares since the rig caught fire.

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