"Strong" BP Has Resources For US Pay-outs - UK's Osborne

17th Jun 2010 08:47

LONDON (AFP)--Oil major BP PLC (BP.LN) is a "very strong company" and has the resources to cover the costs of the Gulf of Mexico oil spill, U.K. Chancellor of the Exchequer George Osborne said Thursday. "BP in the end is a very strong company," Osborne told BBC radio, when asked about the 20-billion-dollar war chest BP had announced Wednesday to face the mounting costs from the disaster. He added: "BP have set aside some money, a very considerable sum of money, and they have those resources." (END) Dow Jones Newswires June 17, 2010 03:47 ET (07:47 GMT)