LONDON: At a celebration of BP's centennial last October, CEO Tony Hayward boasted to guests that the oil company "lives on the frontiers of the energy industry."
But this week, in the first major sign that the Gulf of Mexico oil spill may have caused lasting damage to the company's long-term strategy of embracing projects with high risks, BP was frozen out of a potentially lucrative license to drill for oil off the coast of Greenland.
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