According to the incoming chief executive of BP, Bob Dudley the compensation claims for the Gulf of Mexico oil spill will fall below the huge cost of 20 billion dollars set before. The US government ordered the British oil giant to pay 20 billion dollars as compensation in next three and a half years but the government also cleared that the amount of payments would rise in future if required.

Till now BP is not clear that how much it will have to pay as compensation but Bob Dudley said the amount of money paid by BP as compensation is enough. This reflects the growing confidence of BP after being criticised heavily for the oil spill in April.

Experts are expecting the oil giant BP to start payments of its dividends and the Citigroup said BP could start paying dividends by next February after publishing its annual financial report.

Bob Dudley has taken over the chief executive post from Tony Hayward on 1st October; he said the decision to suspend dividend payments was taken in order to reserve the cash of the company to pay for the disastrous oil spill in the Gulf of Mexico.