Through the end of the third quarter, the company says the costs of spill caused by the blown out oil pipe on its Macando deepwater oil well were US39.9 billion.
The British-based oil giant is still under several U.S. investigations regarding the April 20th explosion of the Deepwater Horizon oil rig and the ensuing five month oil leak. The company expects these investigations to continue into 2011.
The drilling disaster has not eroded BP's confidence in deepwater drilling. The company has stated it is ready to resume drilling operations in the Gulf. Bob Dudley, BP's Chief Operating Officer added that the company is moving forward, "These results demonstrate that BP is well on track for recovery after the tragic accident on the Deepwater Horizon drilling rig and subsequent oil spill.
Read the full story at Oil & Gas Journal: BP oil spill costs reach nearly $40 billion
Image Credit: Sean Gardner/Greenpeace USA
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