BP Receives Fourth Bill Of $99.7 Million From The White House
July 14th, 2010 - 8:19 pm ICT by Pen Men At WorkJuly 14, 2010 (Pen Men at Work): The oil giant BP has received another Bill of $99.7 Million from the White House, which is the fourth bill. This amount is for covering the cost to deal with the oil spill and to refill the Oil Spill Liability Trust Fund.
The company is already in the process of paying the three previous bills, which amounts to $122.3 million. This fourth bill is the largest amount till date. The company is planning to cap the well, which is spilling the crude into the ocean since the last three months.
The huge figure which is exactly $99,661,359.34, has put the financial viability of the oil company in question. The huge bill is supposed to be paid by check or by money order payable to the U.S. Coast Guard.
The stock price of the company was recovering 100 dollars from a lower figure during the start of the month. But now the buyers will definitely be worried about their investment.
However, the company can see a ray of hope with the recent cap getting successfully installed on the leaking well. In the coming days, a final test will be conducted to verify the success of the cap.
The tests were supposed to be conducted by now but it got delayed as the top officials of the Coast Guard and the BP wanted to measure twice before cutting once.
They were worried about the closing cap worsening any present leaks below the sea floor. The company can siphon 100% of the oil leaked onto barges placed above the site if they fail to seal the well fully.
- Obama Administration sends fourth bill to British Petroleum - Jul 14, 2010
- US mounts pressure on BP; Obama heads to Gulf Coast - Jun 14, 2010
- BP to install tighter cap on oil well - Jul 10, 2010
- Obama to meet BP heads as oil spill continues - Jun 12, 2010
- BP to pay $7.8 bn to victims of oil spill - Mar 05, 2012
- American Government Sets Forth A Deadline To BP Over The Catastrophic Oil Spill In The Gulf Of Mexico - Jun 10, 2010
- BP Plans To Cap Leaking Oil Well Permanently - May 18, 2010
- BP gets another 24 hours - Jul 21, 2010
- Progress reported in efforts to stop the BP's oil spill - Jun 06, 2010
- BP records $4.9 billion loss in 2010 - Feb 01, 2011
- US terms reports of BP resuming Gulf of Mexico drilling as 'misconception' - Apr 05, 2011
- BP Has Not Bequeathed Accurate Data - May 21, 2010
- British Petroleum (BP) To Pay A Fourth Bill Of $99.7 Million - Jul 14, 2010
- Scientists double the estimate of oil flow into Gulf of Mexico - Jun 11, 2010
- BP begins 'static kill' at ruptured US oil well - Aug 04, 2010
Tags: barges, bp, final test, financial viability, july 14, leaks, men at work, money order, oil company, oil giant bp, oil spill liability, pen men, ray of hope, sea floor, stock price, three months, trust fund, u s coast guard, white house
