MARKET TALK: BP's New CEO Wants Co. To Be Leaner

27th Jul 2010 21:54

4:54 (Dow Jones) Robert Dudley, BP's (BP BP.LN) new chief executive, tells CNBC he envisions the U.K. oil major becoming leaner and having higher margin assets because it is selling off pieces of itself to cover mounting costs stemming from its oil leak in the Gulf of Mexico. Dudley takes the reins of the company as it works to kill the once-gushing well. He says there will be a period of time where his company won't be allowed to drill new wells in the Gulf of Mexico because of the disaster, which was caused by the explosion and subsequent sinking of a rig in April. ([email protected]) Call us at (415) 439-6402 or email [email protected] Visit the Market Talk website at http://www.djnmarkettalk.com. (END) Dow Jones Newswires July 27, 2010 16:54 ET (20:54 GMT)