BP Announces New Safety Policing Unit

BP’s new CEO Bob Dudley is not wasting any time to shuffle the company’s upper echelon in an effort to perform some major damage control after this summer’s Gulf Coast disaster. 

Just two days before he officially replaces Tony Hayward, Dudley announced the installment of a new unit whose sole responsibility will be to police the safety practices of the company. The new division will be headed by Mark Bly who also led the investigation into what caused the Deepwater Horizon oil spill.

“This is a deeply challenging time for BP. The Macondo incident was a tragedy that claimed the lives of 11 people, caused injury to many others and had a widespread environmental impact,” Dudley said in a message to BP staff.

“Our response to the incident needs to go beyond deepwater drilling. There are lessons for us relating to the way we operate, the way we organize our company and the way we manage risk.”

Read more…

BP's Hayward To Receive $18 Million Payout

Tony Hayward announced yesterday that he’ll be stepping down from his position as CEO of BP in October. He will be replaced by Robert Dudley, who will be BP’s first American CEO.

The New York Times has reported that Hayward is stepping away with a payout of $18 million, and with millions more in BP shares in an incentive plan.

- Brandon Kosters

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

Tony Hawyard's Next Post Might Be In Russia

BP’s CEO Tony Hayward might step down from his post in October. There have been rumors saying Hayward will be reassigned to BP’s joint venture in Russia. BP’s businesses in Russia are approximately the same size as the company’s venture in the U.S. and the position would still leave Hayward with plenty of say-so in the company. 

Managing Director Robert Dudley, current manager of cleanup efforts in the Gulf of Mexico, has been mentioned as a possible successor as BP’s new CEO.