BP To Sell $30 Billion In Assets

According to an article published today by the New York Times, BP has announced that it will sell $30 billion in assets by 2012 to pay for cleanup costs in the Gulf of Mexico.

The article said that while BP enjoyed a second-quarter profit of $4.4 billion last year, it has suffered a loss of $17 billion this second-quarter.

Also, the oil giant confirmed today that outgoing CEO Tony Hayward will be replaced by Bob Dudley, an American-born executive at the company…

- Brandon Kosters