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BP CEO Says He Can Stick To His Reset Plan With Oil Below $70

Bloomberg.com · last updated

BP Plc is off to a “great start” in its strategy reset and can follow through on the turnaround despite the recent drop in oil prices, said Chief Executive Officer Murray Auchincloss.

President Donald Trump’s trade war has driven Brent crude below $70 a barrel, the price assumption that underpins BP’s plans to boost cash flow and reduce debt by selling assets. While the financial framework has tightened, the company is on track and its $20 billion divestment program could actually be assisted, Auchincloss said.

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