Source:
https://scmp.com/business/companies/article/1293030/bp-raises-oil-spill-charge-q2-misses-forecasts Companies
BP raises oil spill charge as Q2 misses forecasts
An explosion on a rig in the Gulf of Mexico killed 11 crewmen, and caused the largest oil ppill in US history. Photo: Reuters
International oil company BP increased its giant accounting provision for the 2010 oil spill to US$42.4 billion from US$42.2 billion on Tuesday and said its US$20 billion fund to pay spill compensation had only US$300 million left in it.
The news came as BP’s second quarter results missed expectations, with adjusted net profit coming in at US$2.712 billion compared with expectations of US$3.410 billion.