BP to recover some of cash from clean-up

first_img KCS-content whatsapp BP to recover some of cash from clean-up BP believes compensation claims related to its Gulf of Mexico oil spill will be less than the $20bn (£12.9bn) the oil giant has put into an independent claims fund, Citigroup said, following a meeting with incoming chief executive Bob Dudley.“He added that given current estimates of claims the $20bn Independent Claim Fund (ICF) that BP established probably exceeds calls,” said Citigroup. He also said the $32bn provision BP made for the total cost of the disaster remained a reasonable indicator of eventual cost.Dudley also told the analysts that claims by Gulf states for lost tax revenue related to the spill “should not be too high” as any tax drops due to lower economic activity following the spill would be offset by the economic stimulus of the response effort.Citigroup said that, following the meeting with Dudley, it had growing confidence BP would reinstate its dividend early next year. “Dudley pointed out the company was not ordered to cut the dividend by the US government – it was a choice by the corporation to preserve liquidity … we believe the company can re-instate a dividend with the fourth quarter results,” Citigroup said. whatsapp Show Comments ▼ Monday 13 September 2010 8:49 pmcenter_img More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia Share Tags: NULLlast_img

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