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BP CEO Expects Gulf Rig Trial to Last Into 2014, Telegraph Says

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Feb. 26 (Bloomberg) -- BP Plc expects the court case in the 2010 Deepwater Horizon oil rig disaster in the Gulf of Mexico may stretch into 2014, the Sunday Telegraph reported, citing an interview with Chief Executive Officer Bob Dudley.

“We have to remember we are a business that invests in decades-long cycles,” Dudley said in the interview, which the Sunday Telegraph said was his first in-depth newspaper interview since he became CEO in 2010.

The oil company has altered its practices since the accident and is “now using the toughest standards in the world for floating drilling rigs,” the Sunday Telegraph quoted Dudley as saying. BP won’t cut its dividend and will consider share buy-backs in the future, Dudley said, according to the newspaper.

To contact the reporter on this story: Andrea Gerlin in London at agerlin@bloomberg.net

To contact the editor responsible for this story: Mike Harrison at mharrison5@bloomberg.net