BP gives two execs bonuses in oil rig blast year

3rd March 2011, Comments 0 comments

BP awarded two senior executives bonuses last year despite the devastating Gulf of Mexico spill, although new chief executive Bob Dudley renounced his reward, the company said in its annual report.

Chief financial director Byron Grote received a £380,000 ($620,000, 445,000 euro) bonus while Iain Conn, head of downstream activities, picked up a payment of £310,500.

The bonuses amounted to 30 percent of the full potential payouts.

Other senior executives however will not receive bonuses after the Deepwater Horizon disaster which cost former chief executive Tony Hayward his job.

The annual report said Dudley denied himself a bonus, although he is still potentially eligible for up to 581,084 shares, currently worth £2.8 million.

The explosion on the BP-leased Deepwater Horizon rig in April 2010 killed 11 workers and sent millions of barrels of oil flowing into the Gulf over a three-month period, wreaking havoc on the region's environment and economy.

© 2011 AFP

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