bob dudley

In the past month, BP shares are up 16%, outpacing both the Dow and other oil giants. Now that the worst of the oil spill is over, BP has appeal for investors as a cash-flow and profit machine with decent future prospects.

BP may restart its dividend payments early next year after choosing to suspend them in the aftermath of the explosion of its Deepwater Horizon rig in the Gulf of Mexico in April.

A coalition of three major environmental groups is requesting that BP immediately set aside this money in addition to the $20 billion it has already committed because that federal escrow fund is meant to pay for only economic damages.

BP's new CEO Bob Dudley has received a warm welcome in the U.S. press, in large part because he's an American born and raised near the Gulf. While Dudley's local roots may help soothe some nerves in the disaster-stricken region, it's only a matter of time before the harsh realities of the worst oil spill in American history come to the fore.

BP's board appears to be saying yes. They're betting the American who has become the face of BP's Gulf Oil spill cleanup has the right stuff to not only end that nightmare but to lead an overhaul of BP's corporate culture to one that stresses safety as well profits.

Embattled BP CEO Tony Hayward, whose penchant for verbal gaffes deepened the psychological wounds caused by the worst oil spill in U.S. history, will step down from the top job effective Oct. 1 to take over as head of BP's joint venture in Russia, TNK-BP.

The costs associated with the Deepwater Horizon oil spill are rising and CEO Tony Hayward may soon be out of a job, but BP's second-quarter profits will likely be strong, thanks in large part to higher crude prices.

BP re-capped its leaking oil well in the Gulf of Mexico after an accident involving an underwater robot forced the company to remove it. The cap was refitted late Wednesday on the eighth attempt.

In a rude welcome to Bob Dudley, BP's new point man in the Gulf oil spill, the company's containment effort hit a potentially serious snag when the cap covering the blown-out well had to be removed.

BP announced on Wednesday that Bob Dudley has replaced CEO Tony Hayward as the person in charge of the oil giant%u2019s long-term response to capping the leaking deep-water oil well in the Gulf of Mexico and cleaning up the environmental damage.