BP’s board is expected to name Robert Dudley as its CEO, replacing Tony Hayward, who has been criticized for his management of the Gulf of Mexico oil spill, sources said. The appointment of Dudley, who leads BP’s operations in the U.S., would mark the first time an American led the company. This comes as BP is set to report a significant second-quarter loss amid ongoing Gulf cleanup operations.
Also, BP to install final pipe in relief well this week. BP will complete the installation of piping for its relief well sometime this week, said retired Coast Guard Adm. Thad Allen. Once work is finished, the company will start employing its “static kill” technique to seal the leaking Gulf of Mexico well during the first week of August, he added. Read more, Reuters.