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BP Mulls Deals to Expand Oil and Gas Production Amid Profit Boom

  • BP could pursue ‘smart M&A’ to boost output, CEO Says
  • Soaring fossil fuel prices delivered BP record profits in 2022
Bloomberg business news
BP Will 'Stay Disciplined' Regardless of Oil Price, CEO Says

BP Plc may pursue acquisitions to expand its oil and gas portfolio as the company scales back promises to sharply cut fossil fuel output this decade amid soaring prices and limited supplies. 

“You may see us doing some smart M&A, commercial deals, partnerships, things that make sense in that space,” Chief Executive Officer Bernard Looney said in a presentation.