BP PLC (BP.LN) said Tuesday that it expects to book a $1.7 billion post-tax non-operating charge in its 2017 fourth-quarter results for claims associated with the Deepwater Horizon court-supervised settlement program.
The oil company said the court-supervised settlement program, established as part of the class action related to the Deepwater Horizon oil spill in 2010, is now approaching its closure.
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Cash payments in 2018 related to the Deepwater Horizon case will be around $3 billion, the company said, compared with its third-quarter estimate of more than $2 billion.
The charge is fully manageable within BP's existing financial framework, the company said.
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(END) Dow Jones Newswires
January 16, 2018 02:42 ET (07:42 GMT)