BP reaches $100 million/day spend rate

On Monday, BP announced it has spent $300 million on its Gulf of Mexico oil spill response effort in the last three days, reaching a $100 million per day spend rate.

On Monday, BP announced it has spent $300 million on its Gulf of Mexico oil spill response effort in the last three days, reaching a $100 million per day spend rate. BP's total response bill so far is $2.65 billion.

The figures presented include the cost of attempting to cap the well, as well as the clean-up of environmental damages and compensation for those financially affected by the spill.

In its announcement, BP noted the clean-up effort is on track, despite slowed progress in the last few days, and claimed the proposed three-month timeframe for completion of the task will be maintained.

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