MARKET TALK: BP May Report $13B 2Q Loss On Spill Costs -BarCap

26th Jul 2010 13:38

1238 GMT [Dow Jones] BP (BP) could book a $25 billion provision to cover the cost of the oil spill in the Gulf of Mexico in its 2Q results Tuesday, pushing the company to a $13 billion loss, says Barclays Capital. Excluding spill costs, BP should put in a robust operation performance with earnings of almost $5 billion, it says. The total cost of the spill could reach $37 billion, it adds. Gives underweight rating, 430p target. Shares +2.2% at 407p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 26, 2010 08:38 ET (12:38 GMT)