bp oil spill cost

BP May Be Preparing More Asset Sales

Several media have reported that BP will increase its target for asset sales to as high as $40 billion. This almost certainly mean disposing of its aging oil field holdings in Prudhoe Bay, Alaska, which may be worth as much as $20 billion.

BP Puts First $3 Billion Into Gulf Escrow Fund

BP made the first installment earlier than scheduled, and it will make an additional $2 billion deposit in the fourth quarter. Thereafter, it add $1.25 billion to the fund per quarter until the total reaches $20 billion.

BP Sells Operations in Colombia for $1.9 Billion

BP, which needs to raise funds to help clean up the worst oil spill in U.S. history, said Tuesday it will sell its operations in Colombia for $1.9 billion to Ecopetrol and the Canadian company Talisman. Ecopetrol is the largest oil company in Colombia.

BP Oil Spill Could Lower Gulf Coast Home Prices By $56,000

The decline in property values could total $3 billion over five years, Bloomberg reported, citing real estate data company CoreLogic. The BP oil spill could wipe out the premium that buyers normally pay to be near the ocean. The total losses along the Gulf coast could total $3 billion over five years, Bloomberg reported, citing real estate data company CoreLogic Inc. The spill could wipe out the premium that buyers normally pay to be near the ocean.

BP's Oil Spill Costs May Be Up to $33 Billion

The oil spill in the Gulf of Mexico is taking a bigger bite out of BP's bottom line, according to a report issued Wednesday by analysts for Sanford C. Bernstein that hikes the oil company's cost to $33 billion.