BP has lost in its latest attempt to cap its liabilities over the Gulf of Mexico oil spill.
The US Supreme Court threw out its legal challenge against a multibillion-dollar compensation scheme yesterday.
The oil group had said that it was being forced to make hundreds of millions of dollars of “absurd” and “fictitious” payments to businesses that had not lost any money from the spill. The ruling means that BP must continue to make payments and is expected to increase its $43 billion provision for spill liabilities when it reports annual results in February next year.