BP raises oil spill charge as Q2 misses forecasts

International oil company BP increased its giant accounting provision for the 2010 oil spill to US$42.4 billion from US$42.2 billion on Tuesday and said its US$20 billion fund to pay spill compensation had only US$300 million left in it.

The news came as BP’s second quarter results missed expectations, with adjusted net profit coming in at US$2.712 billion compared with expectations of US$3.410 billion.