Bob Dudley, the first American to lead British oil giant BP, said in a memo to employees that investors want ''clarity and certainty'' after the company's Moscow office was raided last week and Halliburton announced it was suing BP for issues related to the Gulf of Mexico oil spill. The memo was obtained by Bloomberg News.
(HAL), the world's second-largest provider of oilfield services, announced it was suing BP because the British company provided the U.S. firm with inaccurate information prior to Halliburton cementing the Macondo well in April 2010.
BP's (BP) now languish 45% below where they were before the Deepwater Horizon rig exploded on April 20, 2010. In the memo, Dudley encouraged BP staffers to not be distracted by ''short term noise'' related to the worst oil spill in U.S. history.
Dudley acknowledge that investors have been frustrated since the spill. Analysts and investors have voiced in concern that BP's production is faltering, due in part to massive asset sales the company has used to raise cash for spill-related expenses, and those parties have become vocal about BP is doing to replace that lost production.