BP in record £11bn loss
BP has said it has put aside £20.8bn to cover the costs linked to the oil spill in the Gulf of Mexico.
That means the company’s loss between April and June was £11bn – the largest in British corporate history.
BP also confirmed that under-fire chief executive Tony Hayward would leave the company in October.
He will be replaced by Bob Dudley, who is in charge of the company’s response to the crisis.
Stripping out the money set aside for claims, BP saw profits almost double to £3.2bn thanks to an increase in the price of oil.
“The tragedy of the Macondo well explosion and subsequent environmental damage has been a watershed incident,” said BP’s chairman, Carl-Henric Svanberg. “It will be a different company going forward, requiring fresh leadership, supported by robust governance and a very engaged board.”
Meanwhile Greenpeace staged a series of co-ordinated demonstrations at BP petrol stations across London in protest at new drilling plans.
The company was forced to close down many stations as the protesters refused to move on.