Monday, July 26, 2010

BP to Shed Oiled Executive

Now that oil isn't spewing into the Gulf of Mexico, BP may turn the page on CEO Tony Hayward. American Robert Dudley may replace the oiled chief executive. Dudley is an American with Gulf Coast roots.

Dudley's job will be to keep BP drilling in the Gulf of Mexico, Alaska and the Artic. Bloomberg

The Gulf is home to about 25 of the 40 production projects BP plans by 2015.

A change of face at the top, combined with two conflicted Oil Spew Commissioners, could keep BP drilling in the Gulf. The shedding of Tony Hayward is but the latest risk management move. Look for BP to reorganize assets and ring fence liability.

American Robert Dudley will have BP's interest, no one else's. A look at his nefarious mentors, Lord John Browne and Tony Hayward, should inspire caution.

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