BP PLC, London, plans to contribute $1.6 billion to its pension plans, mainly in the United States, by the end of the year, a company spokesman said. It contributed $650 million in the third quarter ended Sept. 30, he said. The U.S. plan has $4.2 billion in assets and $6.77 billion in liabilities; the U.K. plan totals $15.1 billion in assets and $14.8 billion in liabilities. Information on the breakdown of the contribution or how it will be invested was not available. He said the contributions are voluntary. BP is able to make them because of strong cash flow.
Other BP executives couldn't be reached for comment