New CEO Dudley Vows to Fulfill BP’s Commitments in the Gulf

BP to sell $30 billion in assets before 2012 to pay for costs related to the oil spill in the Gulf of Mexico.

BP on Tuesday set aside $32.2 billion to deal with the aftermath of the spill, leading to a record second-quarter loss of $17 billion. That compared with a $4.4 billion profit in the period a year ago.

Adam Hunger/Reuters

Robert Dudley is to become BP’s first non-British chief executive at the beginning of October, replacing Tony Hayward.

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