TV News LIES

Wednesday, Jun 29th

Last update05:20:13 AM GMT

You are here News Environment BP Embraces Deepwater Risk as Dudley Rebuilds After $40 Billion Gulf Spill

BP Embraces Deepwater Risk as Dudley Rebuilds After $40 Billion Gulf Spill

E-mail Print PDF

BP oil spil costs $40bnBP Plc Chief Executive Officer Robert Dudley expects to drill in the U.S. Gulf for 20 years as the company exploits its experience searching for oil miles below the sea.

“Companies like BP, one of the roles they play in the industry is working in riskier areas,” Dudley, 55, said in an interview at BP’s worldwide London headquarters yesterday. BP “is now going to become incredibly focused on managing the risks, for example, of deep-water. It’s not going to shy away from the risk, it’s going to get even better at it.”

Dudley, who took over from Tony Hayward last month and will present his first strategy update in February, said it will take two years to remake the company after a runaway Gulf of Mexico well caused the worst offshore U.S. oil spill, a disaster projected to cost $40 billion. BP may start paying dividends next year at a lower level than before the spill, he said.

“The idea of coming out in February with a massive firework around strategic direction from BP may sound exciting, but it’s not quite realistic,” Dudley said. “You will likely see an immediate set of steps by BP, and further ones to come in 2011 and 2012.”

BP may reduce the number of countries where it produces oil and gas to 16 from 21 after selling assets in countries including Venezuela, Vietnam, and Colombia, he said.

More...


Most Recent Related Stories...


U.S., Canada, Mexico pledge to generate 50 percent of energy from clean sources

Energy pact - US, Canada and MexicoThe United States, Canada and Mexico have agreed to cut greenhouse gas emissions in the oil...

Study Links 6.5 Million Deaths Each Year to Air Pollution

6.5 million die from air pollutionA sobering report released on Monday by the International Energy Agency says air pollution has become...

U.S. charity loophole enabled trading of 1,300 endangered animals

US charity loopholes endanger animalsLast year, after a Minnesota dentist sparked an uproar by killing a popular lion named Cecil...

In West Virginia, a flood that will go down in history

W Virginia historic floodWest Virginia communities have been devastated by floods that killed at least 24 people and rendered...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!