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Firm’s financial pain offset by rising oil prices as it winds down payouts from 2010 disaster with 99% of 390,000 claims processedBP is nearing the end of the $65bn (£47bn) Deepwater Horizon compensation process, it said as it announced an unexpectedly high payout of $1.7bn among the final few hundred outstanding claims. The British oil firm said on Tuesday it would pay the $1.7bn charge in the last quarter of 2017 for court-ordered payments resulting from the worst oil spill in US history. It means BP will have paed out $3bn in compensation for 2017, compared with the $2bn anticipated. Continue reading…

Source: https://www.theguardian.com/business/2018/jan/16/bps-deepwater-horizon-bill-tops-65bn