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BP Spill Clean-Up Costs Hit $100 Million a Day

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Reuters
June 28, 2010

Thick oil from BP’s Gulf of Mexico spill washed ashore in Mississippi for the first time as tropical storm Alex moved into the Gulf, posing a threat to the cleanup operation, as the UK oil major announced its clean up costs had hit $100 million a day.

Alex, the first named storm of the 2010 Atlantic hurricane season, had sustained winds of 45 mph (75 kph) and was about 60 miles (100 km) west-southwest of Campeche, Mexico. The system was moving west-northwest at 7 mph (11 kph). Forecasters from the U.S. National Hurricane Center say Alex could become a hurricane in the next 48 hours.

They predict Alex will make landfall as a hurricane on Wednesday between Brownsville, Texas, and Tuxpan de Rodriguez Cano in Mexico, sparing BP’s oil collection efforts at its ruptured deep-sea well.

After another rocky week last week, investors will have their eyes on shares of BP, which have been savaged since the oil spill started on April 20.

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This article was posted: Monday, June 28, 2010 at 3:53 am





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