💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

BP CEO Dudley has little stomach for new U.S. offshore drilling

Published 01/11/2018, 02:58 PM
© Reuters.  BP CEO Dudley has little stomach for new U.S. offshore drilling
BP
-
NG
-
BP
-
  • BP (LON:BP) (BP +1%) CEO Bob Dudley shows little enthusiasm for pursuing drilling in new areas off America’s coasts, in response to the Trump administration's proposal to open up vast areas of federal waters to new leasing.
  • "We’ve got a very full plate in the United States,” Dudley says in an interview with Axios. “We don’t have a plan that says, ‘Here’s what we’re interested in’ because we have prioritized a lot of activity, including reducing exploration and the size of the company.”
  • Amy Harder, the interviewer, thinks Dudley's caution likely is shared by other major oil companies because of pressure by shareholders to continue keeping costs down, continued focus on onshore shale oil and natural gas, and regulatory and litigation obstacles in some of the new areas.
  • Now read: Selling BP Because Of Its High Debts And Uncertain Future


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.