Wednesday, June 16, 2010

$BP PLC could face liabilities beyond the $20 billion it has agreed to pay into an independently managed fund

By THE WALL STREET JOURNAL

  BP PLC could face liabilities beyond the $20 billion it has agreed to pay
into an independently managed fund, under a deal with the Obama administration,
a person familiar with the negotiations said.

  BP had pushed during talks at the White House Wednesday for a cap on its
liabilities for the Gulf oil spill in return for agreeing to fund the
compensation fund. Obama administration officials say the White House declined
to accept the cap.

  President Barack Obama is expected to announce the outlines of the agreement
within the hour.

  (This story and related background material will be available on The Wall
Street Journal Web site, WSJ.com.)

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