Free Trial

BP Oil Budget Set for US Projects

OIL

BP is aiming to spend around $500 million developing oil and gas projects according to its CEO Bernard Looney today.

  • "We will direct more investment towards hydrocarbons to help with energy security in the near term," Looney said, adding "We'll probably direct about a half a billion dollars for hydrocarbons."
  • The spending will be targeted at onshore production in the Hayensville basin and offshore production in the Gulf of Mexico.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.