BP plans to sell assets worth $30bn to meet the costs of its massive oil spill in the Gulf of Mexico, and has confirmed the departure of its chief executive Tony Hayward.
The announcements on Tuesday came as BP reported one of the largest losses in British corporate history, losing $17bn after tax in the second quarter after a $32.2bn pre-tax provision to pay for cleaning up the spill and compensating its victims.
Mr Hayward is to be replaced on October 1 by Bob Dudley, the 54 year-old American managing director who has been running the company’s response to the spill in the US.
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