BP's bill for containing and cleaning up the oil spill has reached nearly $10bn (£6.4bn), as the US government declared that the blown-out well has finally been plugged, five months after the explosion on the Deepwater Horizon rig.
The beleaguered oil company revealed that its total cost of the spill had climbed to $9.5bn.
BP also said payouts to people affected by the spill such as fishermen, hoteliers and retailers had dramatically increased since it handed over authority for dispensing funds to a White House appointee.
BP has set up a $20bn compensation fund, which has so far paid out 19,000 claims totalling more than $240m. The fund is run by lawyer Kenneth Feinberg, the Obama administration's former executive pay tsar.
The oil company previously paid out about $3.5m a day in compensation, but this has risen to $12.5m a day since Feinberg took over.
Read more at www.guardian.co.uk
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