BP plc (BP) Tops Q3 EPS by 8c
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BP shrinks again to weather extended oil slump
October 27, 2015 3:40 AM EDTBy Ron Bousso and Karolin Schaps
LONDON (Reuters) - BP announced a third round of spending cuts and more asset sales over the coming years on Tuesday to tackle an extended period of low oil prices and help pay for its $54 billion U.S. oil spill settlement.
The British oil and gas company, which has already sold nearly $50 billion in assets since the deadly 2010 Gulf of Mexico spill, said it expected an additional $3-5 billion of divestments in 2016.
Oil companies have been aggressively cutting spending and operating costs over the past year to deal with... More
