BP’s Russian venture is already proving trickier than expected
TONY HAYWARD, BP’s ex-boss, once moaned that he wanted his life back. That was after an oil spill in the Gulf of Mexico last year, which the British oil giant expects will end up costing it more than $40 billion. BP, too, is struggling to get its old life back, even after apologising, helping with the clean-up, dumping Mr Hayward and taking a huge write-off.
On February 1st it announced its final, awful, results for 2010: a loss of $4.9 billion. That was BP’s first loss since 1992, but the company fondly hopes that it will now have an opportunity to move on. It would like to direct the world’s attention to its efforts to improve safety, its plan to start paying dividends once again this year and its ideas for the future. …





