February 11, 2019 / 3:31 PM / 5 months ago

BP to invest about $1.8 billion in Egypt this year - CEO

FILE PHOTO: The logo of BP is seen at a petrol station in Kloten, Switzerland October 3, 2017. REUTERS/Arnd Wiegmann

CAIRO (Reuters) - BP Chief Executive Bob Dudley on Monday said the company will invest about $1.8 billion (£1.4 billion) in Egypt this year and he expects a crude oil price of $50-65 a barrel over the next year.

Dudley added that the current oil price is healthy and fair and that the market feels balanced.

Reporting by Nadine Awadalla and Aidan Lewis; Writing by Eric Knecht and Yousef Saba; Editing by David Goodman

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