UPDATE 1-BP-Anadarko settlement a win-win — Dudley

Written by Admin. Posted in Local Events

12:40, Monday 17 October 2011

(Adds further Dudley comment)

MOSCOW, Oct (KOSDAQ: 039200.KQ – news) 17 (Reuters) – BP’s $4 billion settlementfrom partner Anadarko Petroleum (Stuttgart: 871766 – news) over clean-up costs forthe Gulf of Mexico disaster is favourable to both parties, itschief executive said.

“We regard it as favourable for both companies,” Bob Dudleytold reporters on Monday. “I am very pleased that they steppedin and are now shouldering some of the responsibilities.”

BP had said on Monday it had accepted the $4 billionpayment, less than it might have won in court.

Dudley said the settlement did not represent a concession,adding it was “a very substantial contribution by bothcompanies” that would allow them to put uncertainty linked tothe case behind them. (Reporting by Gleb Bryanski, Writing by Douglas Busvine,Editing by John Bowker)

Tags: ,

Trackback from your site.