BP Rejects Concern Over Stranded Assets Amid `Slow' Energy Shift
- Investments will have ‘economic long lives,’ CEO Dudley says
- Oil and gas demand will endure as global populations grow
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The world is undeniably shifting to a cleaner energy future, but oil major BP Plc isn’t concerned it’ll be left holding unusable assets.
“We turn over our entire production every 13 years roughly -- reserves to production,” Chief Executive Officer Bob Dudley said Tuesday. “We actually can turn over the whole company in response to market conditions.”