BP to Set up Fund for Laid Off Oil Workers

June 16, 2010
BP chairman Carl-Henric Svanberg said the company cared about the fate of the 'small people' hit by the Gulf of Mexico oil spill, vowing to look after all affected.

BP has agreed to set up a $100 million fund for unemployed oil workers, President Barack Obama said on June 16 after "constructive" White House talks with company bosses.

The surprise announcement was on top of a $20 billion escrow fund unveiled by the president after meeting with BP executives to discuss the fallout from the Gulf of Mexico oil spill.

BP chairman Carl-Henric Svanberg said on June 16 the British energy giant cared about the fate of the "small people" hit by the Gulf of Mexico oil spill, vowing to look after all affected.

Copyright Agence France-Presse, 2010

Popular Sponsored Recommendations

Legacy Phone Lines Are Draining Your Profits

Oct. 30, 2023
Copper wire phone line expenses that support emergency devices could be costing your company millions of dollars in wasteful overhead expenses. Rates have been skyrocketing while...

Navigating Disruption: A Leader’s Guide to Strategy Under Uncertainty

Nov. 1, 2023
AI, sustainability, digital--industrials are facing disruptive forces that are redefining what it takes to win. What got your company where it is today won’t get you where you...

3D Printing a More Efficient Factory Floor

Nov. 16, 2023
Today’s additive manufacturing platforms make it simple to print a wide range of high-performing industrial parts as soon as possible and right where you need them — unlocking...

Food and Beverage 2024 Trends and Outlook for North America

Oct. 29, 2023
Ready to hear what 200 of your peers said are the top challenges and opportunities in 2024? Don’t fall behind. Uncover actionable insights to better prepare for 2024 in this whitepaper...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!