BP Plc has raised the total liability from the Deepwater Horizon oil disaster, which triggered the worst offshore oil spill in U.S. history, by $5.2 billion to $61.6 billion before tax.
The London-based company expects to take a $2.5 billion after-tax charge in its second-quarter earnings following “significant progress” in resolving outstanding claims, it said in a statement Thursday. Any further payments related to the 2010 incident that killed 11 workers and spewed millions of barrels of crude into the Gulf of Mexico won’t have a material impact on financial performance, it said.