Aging Oil Fields Defy Gravity to Pump More Crude
- BP CEO comments on surprise boost from old wells in interview
- Decline worldwide was slowest in at least a decade, IEA says
Goldman Sachs' Della Vigna Says Key Surprise Is Oil Demand
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Bob Dudley, in his 38 years in the oil industry, has never seen anything like what happened with BP Plc’s old fields last year: They gushed more crude.
“I cannot remember ever in my career having seen a negative decline rate,” the British oil-giant’s chief executive officer said in an interview on the sidelines of the CERAWeek by IHS Markit energy conference in Houston.