Saturday, June 5, 2010

BP (NYSE:BP) Creates Separate Oil Spill Business

BP (NYSE:BP) is creating a separate in-house business to deal with the oil spill in the Gulf of Mexico, which will be run by an American working for the company: Bob Dudley.

Even though the oil spill is an obvious priority for BP, not only must the focus on the other parts of their business to survive, but if they are to pay back the damage from the leak, they also much remain a viable company.

This looks like a good idea for the company so the oil incident can be isolated and separated from other operations for which it has become a distraction and consuming resources needed elsewhere.

Putting an American face on the separate company is probably a good idea as well, although I think the idea there is anti-British sentiment among Americans is more a media assertion than based on reality, although I'm sure there are isolated incidents.

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