Ruthless cuts by the new boss have produced results in higher than expected profits.Times Online (11.01.09)Indeed, much of the last couple of years has been about undoing what was done under the previous regime. Some problems refuse to go away. Last week, American safety authorities hit BP with a record £53m fine for failing to add safeguards at its Texas City refinery. An explosion there in 2005 killed 15 people and injured 170. Hayward is convinced the company has done enough to fix the safety issues and vowed to fight the ruling.
For someone who prides himself on keeping the machine running smoothly and safely, it is a black eye for the BP boss.
He is adamant, however, that BP’s chequered past, lurching from one disaster to the next, is behind it. “I want to put that to bed. We had a period when there was too much creativity and there was a new idea a week and nothing was ever finished,” he said.
“My whole focus has been to recognise that at its heart we’re an operating enterprise. The question is how do we create a BP that 10 years from now doesn’t end up back in the ditch.”
It seems BP has a history of "failing" to add safeguards.
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