BP’s Bob Dudley outlines post-spill risk strategy

THE NEW chief executive of oil giant BP will today use his first official speech in the UK to lay out his commitment to radically shake up the company’s safety and risk operations in the wake of the Gulf of Mexico spill.

Bob Dudley, who officially took over from much-vilified former chief executive Tony Hayward at the beginning of the month, will deliver a pledge to delegates attending the CBI’s annual conference today that BP will, “over time, become the best company in [the oil] industry at managing risk”.

“We are committed to learning the lessons from these shattering events at all levels and in a way that goes far beyond the specifics of deepwater drilling,” he will say.

Dudley will lay out the actions BP has already taken to ensure that such a disaster does not happen again, including creating a new safety and operational risk division with the power to intervene in all aspects of the company’s technical activities, and improving transparency and accountability at its upstream operations by splitting the unit into three separate exploration, development and production divisions.

Hayward has now taken up a position on the board of BP’s Russian joint venture, TNK-BP.