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2016-05-03 14:55:00

THREE FACTORS OF BP

THREE FACTORS OF BP

BP PLC has had to make some "very tough choices" and let some "very good people" go in Houston and elsewhere amid an environment that has changed "quite dramatically for all of us" over the last few years, a company executive told attendees May 2 at an opening session of the Offshore Technology Conference in Houston.

Bernard Looney, BP chief executive, upstream, posed these questions to his audience: "Is this [oil] price shock different than the others? Is it lower for longer, or is it lower forever?" He answered, "Let me be clear. At BP, we don't think that it is lower forever." Especially with the long-term global energy…

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Tags: BP, OIL, DEMAND, SUPPLY, PRICES
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