Dudley Says BP Gulf Spill Settlement Unlikely as Costs Rise

BP Plc Chief Executive Officer Bob Dudley said it’s unlikely Europe’s second-biggest oil company will reach a settlement with the U.S. over the Gulf of Mexico disaster as provisions set aside to pay for the spill rose.

“It’s highly unlikely we are now going to enter into detailed settlement discussions,” Dudley told reporters in London today. “We’re digging in for the long term.”