BP's Tab So Far in Gulf Spill: $38B

But third-quarter results better than expected
By Evann Gastaldo,  Newser Staff
Posted Oct 30, 2012 6:44 AM CDT
BP's Tab So Far in Gulf Spill: $38B
This April 21, 2010 file photo shows oil in the Gulf of Mexico as a large plume of smoke rises from fires on BP's Deepwater Horizon offshore oil rig.   (AP Photo/Gerald Herbert, File)

BP is still calculating its costs related to the Deepwater Horizon oil spill, but the Gulf of Mexico disaster has now cost the oil giant more than $38 billion to date, Sky News reports. The firm’s third-quarter report included $59 million in payments related to the spill, but even so, results were better than expected, and the company raised its quarterly dividend 12.5%. "BP's performance and the strong progress we are making in transforming the company give us the confidence to increase distributions to our shareholders," said the CEO. (More Deepwater Horizon stories.)

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