TV News LIES

Tuesday, Sep 16th

Last update04:57:11 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...


President Obama has a huge gas problem

fracking problem for OamaLater this month, hundreds of delegates will gather inside the U.N. to talk about climate change....

In Vermont, a milestone in green-energy efforts

burlington, vt.Vermont’s largest city has a new success to add to its list of socially conscious achievements:...

Fracking may put drinking water supply at risk for many countries, study finds

rfacking dangersA new study by the World Resources Institute finds that many places with water scarcity are...

Time Is Running Out for Activists to Halt Fracked Gas Pipeline Into New York City, Connecticut, Rhode Island

Fracked gas pipelineUnless an extension is granted, concerned citizens have only until September 29 to comment to the...
 
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!