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BP Can Keep Reduced Spending Level for Another 3 Years, CEO Says

  • Explorer has enough projects at hand to continue growing
  • Costs coming down fast; industry must get cost structure right
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BP CEO Dudley: Brexit Could 'Gyrate' Pound

BP Plc can keep spending at a reduced rate of about $17 billion for another three years without affecting growth, Chief Executive Officer Bob Dudley said.

The explorer has enough projects at hand to be able to continue producing fuel, he said in a Bloomberg TV interview in St. Petersburg, Russia. “Being a low-cost producer is the name of the game,” Dudley said. “We’re getting very disciplined about capital.”