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Feb 13 2012 12:15
Miner Xstrata says it has brought forward maintenance on two furnaces to assist Eskom to save power.
Feb 13 2012 10:43
Although jobs were created, the economy is still 420 000 jobs short of the peak employment level before the 2009 global financial crisis, says Adcorp.
Feb 13 2012 07:58
Greek lawmakers have approved a new round of drastic austerity measures after a long day of street battles between police and protesters left dozens injured.
London - BP said on Tuesday that chief executive Tony Hayward will leave the troubled energy giant in October and will be replaced by the US national Bob Dudley, currently in charge of the Gulf oil-spill clean-up operation.
"BP today announced that, by mutual agreement with the BP board, Tony Hayward is to step down as group chief executive with effect from October 1, 2010," it said in a statement, adding that Hayward would be nominated as a non-executive director of TNK-BP.
"He will be succeeded as of that date by fellow executive director Robert Dudley."
BP also announced it suffered a loss of $16.9bn in the second quarter, after taking an enormous charge of $32.2bn on costs arising from the devastating Gulf of Mexico oil spill.
The troubled British group added in its results statement that it will look to sell $30bn of assets
over the next 18 months.
"BP announced today that it has
taken a pre-tax charge of $32.2bn for the Gulf of Mexico
oil spill, including the $20bn escrow compensation fund
previously announced," it said.
"The company will also tell
analysts later today that it plans to sell assets for up to $30bn over the next 18 months, primarily in the upstream business, and
selected on the basis that they are worth more to other companies than
to BP.
"This portfolio high grading will leave the company with a
smaller but higher quality exploration and production business."
- AFP