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BP says oil spill costs rise to $11.2 billion

The oil company said it has spent $11.2 billion so far reacting to the blowout, which began April 20 with an explosion that killed 11 workers aboard the Deepwater Horizon drilling rig. The well was declared to be fully sealed on Sept. 19. BP announced in June that it would set up a $20 billion […]

October 1, 2010

The oil company said it has spent $11.2 billion so far reacting to the blowout, which began April 20 with an explosion that killed 11 workers aboard the Deepwater Horizon drilling rig. The well was declared to be fully sealed on Sept. 19.

BP announced in June that it would set up a $20 billion trust fund to guarantee payment of individual damage claims.

So far, BP said it has contributed $3 billion to the fund, and would add $2 billion in the fourth quarter. In following quarters, BP said the contribution would fall to $1.25 billion.

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