BP expects Gulf spill costs to reach $1.6 billion

BP has just revealed that its cost of the Gulf clean-up has reached $1 billion and that it has revised its estimates of the total cost from $1.4 billion to $1.6 billion. That will include “the cost of the spill response, containment, relief well drilling, grants to the Gulf states, claims paid, and federal costs". Read more: AFP via Fin24