BP spill costs up to $2.65B; denies CEO resigning

[Lone_Star_Dem]

Source: Associated Press/ABC

NEW ORLEANS (KABC) -- BP says its mounting costs for capping and cleaning up the massive oil spill in the Gulf of Mexico have reached $2.65 billion. The company is also refuting reports out of Russia that CEO Tony Hayward is resigning.

BP's expenses have climbed $100 million per day over the weekend, according to a Monday SEC filing. Also, engineers are warily eyeing a tropical storm heading for Mexico. Tropical Storm Alex is expected to miss the oil spill area, but it could still hinder containment efforts by creating disruptive waves and winds.

The oil giant has lost more than $100 billion in market value since the deep-water drilling platform it was operating blew up April 20, killing 11 workers and starting the massive leak that has fouled the coastline in four states. BP PLC stock fall 6 percent Friday in New York to a 14-year low.

British-based BP rushed to deny the report by Russia's state RIA Novosti news agency that a senior Russian Cabinet official had said Hayward was expected to resign as chief executive.

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