2 Oct 2010

BP shares up 3%

7:48 am on 2 October 2010

Shares in BP closed 3% higher on the first day at work of the company's new chief executive Bob Dudley.

The price was boosted by comments made by Mr Dudley suggesting the company may resume dividedend payments to shareholders.

BP also named a list of Gulf of Mexico oil fields whose revenue it will use to swell its $US20 billion fund for victims of the oil leak in the Gulf.

The fields include Thunder Horse, Atlantis and Mad Dog.

The BBC reports BP shares rose 2.7 pence to close at 440.5p, their highest level since early June.

BP also said on Friday that the total bill for compensation payments and fighting the leak reached $US11.2 billion this week.

The company is planning to sell $US30 billion of assets.

The leak in the Gulf began after an explosion and fire on the Deepwater Explorer drilling rig on 20 April. It was eventually stopped on 15 July.