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July 12, 2010

Report: BP Pays Out Half of Claims Filed By Gulf Residents
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The Biloxi Sun Herald of Mississippi reports BP has paid fewer than half
of the claims filed by residents in the Gulf states who have been
impacted by the massive oil spill. As of Saturday, BP had received about
103,000 claims but had paid out less than 49,000. Meanwhile officials in
Louisiana have accused BP of reducing payments to tens of thousands of
people whose claim files are incomplete. Much of the claim process is
being done by the private company ESIS which was hired by BP. ESIS
describes the goal of its services as "reducing our client’s loss dollar
pay-outs." BP says the total cost of dealing with the oil spill in the
Gulf of Mexico has risen to $3.5 billion. In an effort to raise more
funds, BP has reportedly discussed selling off its stake Alaska’s
Prudhoe Bay field. Meanwhile officials with Exxon Mobil have approached
U.S. government officials asking if they would object to a takeover bid
for BP.



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