BP faces escalating spill payouts after court ruling
LONDON, March 7
LONDON, March 7 (Reuters) - BP must keep paying certain types of oil spill compensation in much larger amounts and to more parties than it was expecting, according to a court ruling this week, which could add billions of dollars to its final bill.
The March 5 ruling, made by the New Orleans court where it is battling to keep a lid on other fines and penalties, was outlined in BP's annual report. It widens the gulf between the company and those ranged against it inside and outside the court. BP said it would appeal.