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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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BP CEO Bob Dudley. Photo: Michael Kovac/Getty Images

BP CEO Bob Dudley is preparing to leave the oil-and-gas giant within roughly a year, which would end a decade-long run at the helm, according to Sky News and Reuters.

Why it matters: The plan, if true, is part of a wider changing of the guard at some of the world's largest oil companies.

  • Exxon CEO Darren Woods took over for Rex Tillerson in 2017 after Tillerson left for what would be a short tenure as secretary of state.
  • Mike Wirth became CEO of Chevron in 2018, replacing John Watson.

Where it stands: Sky News reported Saturday that Dudley is preparing to leave "within about 12 months," while Reuters noted Monday that he's "drawing up plans" to step down next year.

  • BP did not confirm that the 64-year-old Dudley is preparing to step down. A spokesman tells Axios that "we don't comment on speculation."

The big picture: Dudley became CEO months after the fatal 2010 Gulf of Mexico blowout and massive spill of over 3 million barrels that wreaked havoc on BP's finances and reputation.

  • A big part of his tenure has focused on steering the company through the years of aftermath, including sale of tens of billions of dollars of assets.
  • BP has paid over $65 billion in costs for cleanup, settlements, penalties, restoration efforts and more.

Dudley has also overseen repositioning of the company in other ways. They include...

  • Recently boosting its position in U.S. shale with the $10.5 billion purchase of BHP's assets in 2018, and August's announcement that BP is exiting Alaska after a decades-long run as a huge player in the state.
  • Expanding BP's moves to diversify into other energy sources, although oil-and-gas are still the overwhelming majority of its business. Examples include BP's purchase last year of U.K. electric vehicle charging network Chargemaster and investment in the fast-charging startup StoreDot.
  • BP has also revived its solar efforts with purchase of a 43% stake in the solar developer Lightsource (now called Lightsource BP) rolled out in late 2017.

Where it stands: "Mr. Dudley is under no pressure to step down, meaning a lengthy handover to his successor is possible and could take place after he has turned 65," Sky reports.

Go deeper

Updated 32 mins ago - Politics & Policy

Bill Clinton hospitalized for non-COVID-related infection

Former President Bill Clinton. Photo: Win McNamee/Pool/AFP via Getty Images

Former President Bill Clinton was admitted to the University of California, Irvine Medical Center on Tuesday for a non-COVID-related infection, his spokesperson Angel Ureña said Thursday.

The latest: In an update on Friday, Ureña said Clinton's health indicators are "trending in the right direction, including his white blood count which has decreased significantly."

Tina Reed, author of Vitals
5 hours ago - Health

FDA panel endorses shot of J&J booster for adults

Photo: Wolfgang Kumm/picture alliance via Getty Images)

Members of the Food and Drug Administration's vaccine expert panel on Friday unanimously endorsed a booster shot for adult recipients of Johnson & Johnson's COVID-19 vaccine at least two months after the initial dose.

Why it matters: The advisory committee raised concerns about a dearth of data to support their decision but ultimately decided to support an additional shot for those over 18.

Capitol Police officer indicted for obstructing Jan. 6 investigation

Trump supporters clash with police and security forces as people try to storm the Capitol on Jan. 6. Photo: Brent Stirton/Getty Images

A U.S. Capitol Police officer has been indicted on obstruction of justice charges for allegedly helping hide evidence of a participant's involvement in the Jan. 6 riot.

Driving the news: Officer Michael A. Riley, 50, is accused of telling the unidentified participant, referred to as "Person 1," in the Jan. 6 riot to delete posts from Facebook, which showed them in the Capitol during the attack.

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