BP's Expenses Related to Deepwater Horizon Oil Spill to Reach $61.6Bln

A total sum of oil and gas giant British Petroleum's (BP) expenses that are connected with the Deepwater Horizon oil spill in the Gulf of Mexico are estimated at $61.6 billion, company's press service said in a statement Thursday.

MEXICO CITY (Sputnik) — Earlier in the day, BP announced that it could estimate all of its remaining material liabilities in connection with the incident.

"As a result, taking into account this estimate together with other positive tax adjustments, BP expects to take an after-tax non-operating charge of around $2.5 billion in its second quarter 2016 results. This charge is expected to include a pre-tax non-operating charge associated with the oil spill of around $5.2 billion. This would bring the total cumulative pre-tax charge relating to the Deepwater Horizon incident to $61.6 billion or $44.0 billion after tax," the statement added.

According to the statement, the oil giant believed that any further claims related to the oil spill would barely have a significant impact on its financial performance.

BP was responsible for one of the worst environmental disasters in US history when its Deepwater Horizon oil rig exploded in April 2010, killing 11 people and spilling millions of gallons of oil into the Gulf of Mexico.