BP Still Eyes Deepwater Projects

BP (NYSE: BP), the largest oil and natural gas producer in North America, isn't shying away from risky drilling projects despite taking almost $40 billion in charges in the second and third quarters related to the Gulf of Mexico oil spill.

New BP CEO Bob Dudley said his company won't be shy about embracing risk in the coming years and "going to get even better at it." Those comments were made in an interview with Bloomberg News.

Through asset sales, BP will reduce the number of countries it operates in to 16 from 21. BP has already exited Colombia, Venezuela and Vietnam through recent divestments.

BP said it expects to remain in the Gulf, but appears focused on prioritizing its resources in Brazil where the company acquired assets from Devon Energy (NYSE: DVN) earlier this year.