According to the next chief executive of BP, Mr. Bob Dudley, the firm BP will emerge as a wiser and smaller company from the Gulf of Mexico oil spill. Mr. Bob Dudley is currently the head of BP's clean-up operation in the Gulf of Mexico but in October he is going to replace Tony Hayward for the chief executive post as Mr. Hayward has decided to step down from his work.

Mr. Dudley has said that, the spill has been the largest tragedy in the history of BP and the firm learnt a lot from this disaster. BP has reported a record loss of 17 billion dollars excluding the clean up and compensation costs of 32 billion dollars to cover the oil spill.

The loss recorded by BP in the three months till June was the largest loss for any British Company ever. Mr. Dudley has said that BP would start its business as a financially smaller firm to regain its position after the spill.

He has said that the company has learnt a lot from the spill and even still learning from the huge oil spill.