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BP compensation fund faces 'liability of about $5bn'

BP's compensation fund that it set up to pay claims related to the Gulf of Mexico oil spill is running out of cash.

The oil giant announced that the fund, which originally had $20bn, has just $300m left.

BP says once the fund runs out, further claims will come straight out of future profits.

Speaking to BBC World, Macquarie Group's Head of European Oil and Gas Jason Gammel said there could be "a liability of approximately five-billion incremental that they'd have to recognise".

  • 30 Jul 2013
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