BP has changed its chief executive since the oil spill Oil giant BP has announced a return to profit in the three months to September after last quarter’s record loss.
The firm said its replacement cost profit for the period was $1.85bn (£1.15bn), as against the $17bn loss recorded from April to June.
The previous loss reflected the massive costs of the Gulf of Mexico oil spill crisis, which followed an explosion on a drilling rig in April.
Bob Dudley, who led the clean-up, became BP’s chief executive last month.
He replaced Tony Hayward, who was criticised for his leadership during the crisis.
BP said the cost of the oil spill had now risen by $7.7bn to a total of $39.9bn, including $20bn set aside under pressure from the US government for compensation payments.
In another development, Japanese firm Mitsui said that one of its subsidiaries, Moex Offshore, had been billed $1.9bn by BP to cover costs from the oil spill.
Moex owns 10% of the Macondo oil well project operated by BP.
Mitsui said it had withheld payment, because it said there was uncertainty about the amount due.
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