BP (NYSE:BP) announced that it has paid $30 million in the last seven days to individuals and businesses in the Gulf Coast area who have lost income due to the oil spill. This brings BP’s total of payments issued to claimants up to $256 million so far.
BP said that it estimates it will make advance payments to claimants impacted by the oil spill in the amount of $60 million during the month of August. BP stated that claimants can expect their checks to arrive approximately 30 days after they received their payment in July.
BP (NYSE:BP) expects to begin sending out advance payments by the end of this week.