BP reports $350 mn bill for oil leak fallout

I / London May 10, 2010, 16:36 IST

British Petroleum said today that the huge Gulf of Mexico oil spill had so far cost the embattled British energy group $350 million.

"The cost to date of the response amounts to about $350 million, including the cost of spill response, containment, relief well drilling, commitments to the Gulf Coast States, settlements and federal costs," BP said in a statement.

BP officials were meanwhile desperately searching today for a new approach after efforts to cap a gushing leak with a containment dome hit a perilous snag.

British energy giant BP, which owns the lion's share of the leaking oil and has accepted responsibility for the clean-up, is facing the jaw-dropping possibility that, failing a swift fix it has yet to deliver with a containment dome, the crisis could spiral into an even worse environmental calamity.

The White House also was scrambling to contain fallout from the massive disaster threatening to take a toll on President Barack Obama's political and energy agenda.