BP Expects Gulf Compensation Claims Below $20 Billion

Oil giant BP (BP) believes that compensation claims related to the Gulf of Mexico oil disaster will be less than the $20 billion the company set aside to meet the claims, CEO Bob Dudley told analysts.

Dudley said "that given the current estimates of claims, the $20 billion Independent Claims (ICF), that BP established probably exceeds calls," Citigroup analysts wrote in a research note.

Still, Dudley stuck to his estimate of $32 billion in total costs related to the oil spill, Reuters said.

Citigroup analysts said that, after meeting with Dudley, they were confident BP would reinstate its dividend early in 2011.

Learn about investing from the comfort of your own home.

Portfolio Basics

Take the first steps to building your portfolio.

View Course »

Investment Strategies

Learn the strategies you need to build a winning portfolio

View Course »

Add a Comment

*0 / 3000 Character Maximum