November 28, 2018 / 5:50 PM / 13 days ago

BP chief says spending plans unaffected by oil price slump

EDINBURGH, Nov 28 (Reuters) - BP’s spending plans will not change even though oil prices have fallen by more a quarter since early October to around $60 a barrel, CEO Bob Dudley said on Wednesday.

“We’re planning the future of BP and always have through the cycle on $50 to $60 (a barrel), so it (the oil price) is not changing our capital investment plan. That hasn’t changed at all,” Dudley told reporters on the sidelines of a carbon conference in Edinburgh.

However, Dudley said the company might reprioritise some projects as a results of the slump in crude prices. (Reporting By Ron Bousso and Shadia Nasralla Editing by David Goodman)

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