HOUSTON (CNNMoney) -- BP CEO Bob Dudley, addressing the largest oil industry gathering since the disaster in the Gulf of Mexico last spring, apologized for the blowout and questioned the industry's ongoing response to drilling safety and the unrest in the Middle East.
Noting that the Middle East and North Africa produce nearly 30 million barrels of oil a day, a third of the world's supply, Dudley suggested a more collaborative approach to the crisis.
"My question is whether we should be reacting in a more coordinated way as an industry," said Dudley, speaking before thousands of industry professionals at IHS CERA's annual energy conference.
But Dudley kicked off his speech with an apology.
"Since that accident, this is the first chance I have had to address such a large gathering of industry colleagues and the first thing I want to say is that I am sorry for what happened."
Dudley, who replaced Tony Hayward as head of the oil giant late last year went on to detail the steps BP has taken since the disaster to deal with safety issues at the company.
They include tying employees' performance and review evaluations to how effectively they understand and implement safety standards and procedures, enhancing the company's own internal requirements for well safety devices and equipment, and ensuring the proper containment equipment is in place before drilling a well.
The Federal Reserve adopted a rule on Monday from the Dodd-Frank Act that would limit its ability to lend to banks during emergency situations. More
The AT&T customers still clinging to their unlimited data plans are going to see a $5 price hike in February. More
The six-acre town of Swett in South Dakota can be yours for $250,000. More