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BP's oil spill costs at $3.2 billion

LONDON, July 6 (UPI) -- British petroleum giant BP said it has spent $3.2 billion on costs related to the Deepwater Horizon oil spill in the Gulf of Mexico.

The costs include payment on 47,000 out of 95,000 claims it has received after the Deepwater Horizon oil rig explosion on April 20 that left 11 workers dead and began the worst offshore oil spill in U.S. history.

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BP said it has skimmed 585,400 barrels of oil off the ocean's surface and burned another 238,000 barrels, MarketWatch reported Tuesday.

In London, a spokesman for British Prime Minister David Cameron declined to comment on whether or not the government was making backup plans in case BP becomes insolvent and could not continue with its cleanup efforts.

A BP spokesman said the company was not set to issue more shares as a fundraising effort, but BP shares rose on the stock market after the chairman of Libya's National Oil Co., Shokri Ghanem, said he would recommend the Libyan Investment Authority purchase BP stock.

BP has pledged to put aside $20 billion for the cleanup effort. Since the April 20 explosion, BP shares have lost half their value on the stock market.

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