LONDON (Reuters) – The head of exploration at BP, Richard Herbert, is leaving the British oil major after slightly more than two years in the job, a period in which the company slashed spending on the search for new deposits.

Herbert, a BP veteran and a long-time ally of chief executive Bob Dudley, rejoined BP in October 2013 after several years at rival Talisman Energy. His task was to lead exploration activity to help the firm rebuild investor confidence following a deadly U.S Gulf oil spill in 2010.

http://www.lngworldnews.com/bp-exploration-boss-leaves-after-spending-cuts/?utm_source=emark&utm_medium=email&utm_campaign=daily-update-lng-world-news-2016-05-19&uid=50788

Talisman is hardly a rival of BP, even after Talisman were acquired by Repsol, they are still a much smaller E&P company. This guy simply made the wrong move 2 years ago. The big companies always slash their exploration departments and hunker down when the oil price falls whereas some of the minnows, like KRIS Energy, make profits due to much lower operating costs, minimum staffing and being more flexible when quick changes are required.