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BP Claims Could Be Under $20 Billion

09/15/2010 11:41 am 0 comments

Total claims against BP could end up being less than the $20 billion the company pledged to set aside, according to incoming Chief Executive Robert Dudley.

A Citigroup (C, Fortune 500) report said that analysts met with Dudley, who told them “that given current estimates of claims the $20 billion Independent Claim Fund that BP established probably exceeds calls.” BP confirmed the comments.

Dudley also said that BP’s “eventual cost” from the disaster would probably total $32 billion, as the company had forecast earlier this year, according to the Citigroup note.

BP spokesman David Nicholas told CNNMoney.com that the $32 billion estimate includes the total cost of the disaster for BP – including claims as well as clean-up.

To read this article in its entirety visit CNN Money.

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