BP bills Japan's Mitsui huge sum for Gulf spill

09:10, November 04, 2010      

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BP has billed a subsidiary of Japanese trading house Mitsui &Co up to $1.9 billion for costs from the Gulf of Mexico oil spill, the Japanese company said Tuesday, adding that it would withhold payment.

It said it had not paid given the "ongoing investigations to determine the facts and circumstances surrounding the incident, and given that there is uncertainty at this time as to whether MOEX Offshore will have to make payment."

MOEX Offshore owns 10 percent of the Macondo project operated by BP, while US firm Anadarko Petroleum Corp owns a 25 percent interest, while BP owns the rest.

The firm added that it had asked BP for clarification of its total liability, but the British company had not responded as of the end of October.

It added that it saw its share of the costs as being nearly half that demanded by BP.

The oil disaster began April 20 when the Deepwater Horizon drilling platform exploded in the Gulf, killing 11 workers, and sank two days later.

The broken well was eventually plugged, but not before it had gushed about 4.9 million barrels of oil into the Gulf.

The company yesterday said it expects the Gulf of Mexico disaster to cost it nearly $40 billion, taking into account compensation as well as cleanup costs.

After receiving earlier invoices, Mitsui said it would withhold payments requested by BP to cover costs for the huge spill until the cause is fully determined.

Source: Global Times


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