BP oil spill costs rise above $3 billion - MSNewsNow.com - Jackson, MS

BP oil spill costs rise above $3 billion

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LONDON (AP) - BP says that it has now spent more than $3 billion in attempts to stop an oil leak in the Gulf of Mexico and to settle damage claims.

The oil company said Monday that is has spent $3.12 billion so far in responding to the spill, attempting to contain oil, paying claims and reimbursing the U.S. and local governments.

BP says it has spent $147 million settling 47,000 claims for payment - or about half of the claims submitted so far.

The $3 billion figure does not include the $20 billion fund to compensate for damages it agreed with President Obama to set aside last month.

The oil spill began April 20 with an explosion and fire aboard the Deepwater Horizon platform, killing 11 workers.

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