Dudley Says Oil Industry Must Change To Prevent Spills

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In an address to oil industry executives, BP's Bob Dudley said industry-wide changes are necessary to prevent a disaster similar to the Gulf of Mexico oil spill, the larges oil spill in U.S. history. The speech was Dudley's first to industry executives since he became CEO of Europe's second-largest oil company in October.

Dudley said it would be a mistake to dismiss the spill as a one-off event that ''the industry has a responsibility to change,'' the New York Times reported. Following the spill, executives from other oil majors have maintained the problems encountered by BP (BP) were specific to the company and not indicative of industry-wide problems.

Rex Tillerson, CEO of Exxon Mobil (XOM), the largest U.S. oil company, recently said ''I do not agree that this is an industrywide problem,'' the Times reported. BP's rivals have said they would have designed the Macondo well differently to have prevented the fatal blowout from occurring.

Dudley said BP's new found emphasis has already produced results and that the company has even turned away rigs from contractors that did not meet BP's safety standards, the Times reported.

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