BP Plc said on Monday it had incurred $350 million in costs so far from the huge oil spill in the Gulf of Mexico as fears mounted of a prolonged and growing environmental and economic disaster. BP was considering its next move to contain the spill after its most promising short-term remedy struck a snag over the weekend. Its shares fell about 1 percent in early trade in London against a 2.5 percent rise in the European oil sector index. BP's value has been savaged by investors since the crisis erupted last month. The uncontrolled spill, which could become the worst in U.S. history, is expected to drift farther west, away from Florida's popular beaches but into the important shipping channels and rich seafood areas off the central Louisiana coast, west of the Mississippi Delta.
BP Plc said on Monday it had incurred $350 million in costs so far from the huge oil spill in the Gulf of Mexico as fears mounted of a prolonged and growing environmental and economic disaster.
BP was considering its next move to contain the spill after its most promising short-term remedy struck a snag over the weekend.
Its shares fell about 1 percent in early trade in London against a 2.5 percent rise in the European oil sector index. BP's value has been savaged by investors since the crisis erupted last month.
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The uncontrolled spill, which could become the worst in U.S. history, is expected to drift farther west, away from Florida's popular beaches but into the important shipping channels and rich seafood areas off the central Louisiana coast, west of the Mississippi Delta.
The environmental group Greenpeace issued an unconfirmed report late on Sunday that traces of oil had been found onshore at Port Eads, the southernmost point of Louisiana, which is accessible only by boat or helicopter.
BP said in a statement its costs so far included spill response, containment, relief well drilling and payments to Gulf Coast states to speed up their response plans.
The final bill could be much higher than many analysts predicted as at least 5,000 barrels (210,000 gallons/795,000 liters) of oil a day have been gushing unchecked into the Gulf since the Deepwater Horizon rig exploded on April 20, rupturing the well and killing 11 crew members.
The spill threatens economic and ecological disaster on Gulf Coast tourist beaches, wildlife refuges and fishing grounds across four states. It has forced President Barack Obama to rethink plans to open more waters to drilling.
The National Oceanic and Atmospheric Administration projects that, with brisk onshore winds expected from the southeast, the points of potential contact of the spill with the mainland will multiply between now and Wednesday.
The two Louisiana parishes directly west of the delta declared states of emergency on Sunday in anticipation of a battle to keep oil from coming ashore. Additional staging areas for the spill response have been set up in that area.
Fishing is suspended in parts of the Gulf waters and much of the Louisiana coast. Many tourists have been scared away by reports of reddish, putrid water offshore, even though the coast is currently unaffected.
Article continues: http://www.reuters.com/article/idUSTRE6430AR20100510
