Headline Details

BP expects several years of low oil prices and investment cuts

Published on: Wed, 04 Feb 2015 0:59:33 UTC
News Agency: The Independent

The oil price slump is likely to last for several years and companies will need to adjust to this “new reality” by making enormous cuts to their capital spending, BP chief executive Bob Dudley warned yesterday, as he announced plans to chop $6bn (£4bn) off the group’s capital spending this year.

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