BP (BP +1.3%) surrenders its spot as the Gulf of Mexico's top crude oil producer to Shell...

|About: BP p.l.c. (BP)|By:, SA News Editor

BP (BP +1.3%) surrenders its spot as the Gulf of Mexico's top crude oil producer to Shell (RDS.A); BP produced ~185,000 bbl/day in the Gulf's deep waters in 2012, down nearly a third Y/Y, while Shell produced ~191K bbl/day, a 4% drop. Among BP's $38B in asset sales since 2010 were Gulf fields valued at $5.6B, but it plans to bounce back with $4B/year in Gulf investments over the next decade.