BP announces fourth quarter bonuses to be based on safety guideline performance

BP is set to base its fourth quarter bonuses on how it reacts to safety guidelines.

Safety related bonuses: BP
Safety related bonuses: BP

The move follows the Gulf of Mexico oil spill this year, which became a communications disaster for the UK-owned energy company, when a compromised pipe on the Deepwater Horizon rig leaked an estimated 185m gallons of crude oil into the sea after an explosion on the platform that killed 11 platform workers and injured 17 others.

A BP spokesman confirmed that bonuses in the final quarter of the year would be purely linked to safety performance: ‘BP bonuses have always been linked in some way to safety performance, but for the fourth quarter of the year will be solely linked to safety.’

He further clarified that this would not exist as a stand-alone bonus, but would link to any bonuses to be paid at the end of the financial year.  

The company’s new chief executive Bob Dudley is understood to have sent an email to more than 80,000 BP staff worldwide announcing the review of the bonus structure.     

A fortnight ago Dudley announced that BP would set up a new governing safety unit across BP to police safety concerns.

He also said that that the company would review the way bonuses were paid.

Dudley took over from former BP chief executive Tony Hayward in July this year.

According to the company, BP will not change the existing bonus structure for the first three quarters of 2010. 

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