BP (BP) Says No to Most 2010 Bonuses

Executives at BP (NYSE:BP) who had responsibility connected to operations in the Gulf of Mexico won't be receiving bonuses for 2010, according to the oil giant in its annual report, including former CEO Tony Hayward and Andy Inglis, who had been head of exploration and production at the time.

Current CEO Bob Dudley also decided to not take a bonus for 2010, although a couple of other directors in unrelated units will get bonuses based on performance.

The two receiving bonuses are head of refining Iain Conn and Chief Financial Officer Bryan Grote. Conn will receive a bonus of $170,000, while Grote will receive $207,000. Both met the targets presented to them within their respective divisions.

Bonus decisions for 2010 were mostly based on scale and impact of the Gulf spill, said BP.

BP was trading at $47.91, down $0.30, or 0.62 percent, as of 12:23 PM EST.