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BP moves to well kill, kicks off compensation fund

Mon, 08/09/2010 - 6:27pm
Reuters

MIAMI/HOUSTON (Reuters) - BP advanced on the final lap toward permanently killing the source of the world's worst offshore oil spill and kicked off a $20 billion compensation fund with a $3 billion deposit on Monday.

A relief well being drilled by BP is on track to start a definitive "bottom kill" shutdown of the crippled Gulf of Mexico well this week, unless an approaching weather system disrupts the timing, the top U.S. oil spill response official said.

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