National

May 13, 2010 9:54 AM by Bea Karnes, News First 5

BP says its Gulf oil spill costs now $450 million

The cost of fighting a massive Gulf of Mexico oil spill is mounting rapidly for the global oil company that owns the well.

London-based BP PLC says it has spent $450 million since the spill started after an April 20 oil rig explosion. That's up by $100 million from the last company update three days ago.

BP said in a filing Thursday to U.S. securities regulators that the cost for its response includes efforts to contain the crude, drilling a relief well, money it has given to Gulf Coast states, settlements and federal costs.

BP's chief operating officer Doug Suttles said Wednesday the price tag increases at least $10 million a day.

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