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BP put the cost of the Gulf spill at $9.5 billion last month and has estimated the eventual cost will total $32.2 billion, reports Agence France-Presse,

The energy giant said Friday it would pledge certain Gulf of Mexico assets as collateral for the $20 billion fund it created in June, at President Obama's insistence, to compensate Gulf residents affected by the worst oil spill in U.S. history.

Dudley, who's taking over the helm of the London-based company from Tony Hayward, announced earlier this week that he was creating a safety division with "sweeping powers" to oversee and audit BP's global operations.

--USA Today, Greenhouse