Mitsui says 'No' to spill clean-up bill

'No' to clean-up costs: Mitsui Oil Exploration Company

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By News Wires

 12 July 2010 21:17 GMT

A unit of Japanese trading house Mitsui & Company has decided not to comply with a request from BP to contribute to the oil spill clean-up costs in the Gulf of Mexico, local reports said.



BP had asked for $111 million from Mitsui Oil Exploration, which owns 10% of the blown-out seabed well, the Nikkei business daily said.

The deadline for the payment was today, Reuters reported.

Mitsui's stock has lost more than one-fifth of its market value, or around $7 billion, since the spill occurred on 20 April.

BP, which is making progress with a new containment system for the ruptured well, said today the cost of the spill had risen to about $3.5 billion.

It also said more than 52,000 payments have been made to claimants,…

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