BP will emerge from the Gulf of Mexico oil spill crisis a smaller and wiser company, according to the man who is due to take over the reins. Bob Dudley, currently in charge of BP's clean-up operation, will replace Tony Hayward as chief executive in October. Mr Dudley described the oil spill as a terrible tragedy from which the company and the industry would learn a lot. Earlier, BP reported a record $17bn (£11bn) loss, having set aside $32bn to cover the costs of the spill. The loss for the three months to June was the largest quarterly loss recorded by a British company. "[BP] will be smaller and financially, it will grow," Mr Dudley told ABC's Good Morning America programme. "We are going to share our learnings from this, it's no doubt going to change the oil and gas industry all around the globe as a result of it." 'Not negligent' Mr Hayward, who is leaving by mutual consent, is likely to retain a role within the company. BP plans to nominate him as a non-executive director of its Russian joint venture, TNK-BP. BP also announced it would increase its asset sales over the next 18 months to $30bn, a total that includes the $7bn-worth earmarked for sale ...
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