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The company said it also hopes to sell the Carson refinery near Los Angeles along with its marketing business in southern California, Arizona and Nevada. The company plans to concentrate its U.S. refining and marketing activity at Whiting, Indiana and Cherry Point, Washington, as well as in its 50 percent stake in the Toledo, Ohio facility. "2011 will be a year of recovery and consolidation as we implement the changes we have identified to reduce operational risk and meet our commitments arising from the spill," said BP Chief Executive Bob Dudley. "But it will also be a year in which we have the opportunity to reset the company, adjusting the shape of our business, and focus on growing value for shareholders." Meanwhile, BP's lawyers were due in court in London on Tuesday to contest a challenge to the company's ambitious plans to explore for offshore oil in the Arctic with its new Russian partner, Rosneft. BP's current Russian joint venture, TNK-BP, is seeking an injunction to block the deal on grounds that it violates their agreement. TNK-BP now accounts for a quarter of BP's oil production. BP's Russian partners in the AAR consortium, which owns the other half of TNK-BP, on Monday voted against a $1.8 billion dividend payout for the fourth quarter, a move that would deprive BP of $900 million. In the Gulf of Mexico, BP said activity has been winding down since no significant volume of oily liquid has been recovered from the Gulf since July 21, and 98.8 percent of the waters formerly closed to fishing had been reopened. The number of people employed on the cleanup had dropped from 20,000 to about 6,200, BP said. As of this weekend, about 91,000 people and businesses had filed for final settlements of claims from the $20 billion fund, administered by Washington lawyer Kenneth Feinberg. Thousands of people have received some money to tide them over until a final settlement amount is offered, but only one has been fully paid
-- a $10 million claim which BP called a unique situation.
[Associated
Press;
Copyright 2011 The Associated Press. All rights reserved. This
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