Home › Forums › Refining Community › Energy › U.S. bans BP from new gov't contracts after oil spill deal › BP outlines plans as smaller company, stresses safety
BP listed safety as the first point of its 10-point program to grow its value. “We know that safety is good business and this will show up in stronger and more reliable cash flows in the long run,” Bob Dudley said during a meeting with investors. The focus on safety comes after BP reached a settlement deal with the Department of Justice over criminal charges stemming from the 2010 Gulf of Mexico oil spill.
BP Upstream Presentation Receives Mixed Response
At the London presentation, BP told those present that it plans to raise capital spending to between $24 billion and $27 billion a year for the 2014-to-2020 period from $19.1 billion last year. The proportion allocated to its upstream activities will rise to around 80 percent of total capital spending in 2014 from around 70 percent in 2011.