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July 29, 2010


BP Has Paid $256 Million in Claims

BP estimated July 28 that it would pay at least $60 million in advance payments in August to claimants throughout the Gulf States region for lost income or business profits. BP said it had paid $256 million to date for claims, including $30 million in the last week. Darryl Willis, a member of the BP claims team, said Kenneth R. Feinberg, administrator of the $20 billion compensation fund, would take over the operation in "the next several weeks."

'Static Kill' May Begin August 2

BP still expects to permanently shut the well as soon as August 2. "It is possible that as early as Monday or Tuesday this well might be killed," Robert Dudley, the company's new chief executive, said on National Public Radio. "There's no precision; there's nothing guaranteed. I'm hopeful, and I do believe we've seen the end of oil flowing into the gulf."....continued....