BP puts its own twist on search for gas riches
BP’s strategy update shows it is prioritising flexibility of scale and is less exposed to LNG than other majors, leaving analysts with a generally favourable impression
3 March 2017
The Khazzan field in Oman, part of the ‘strong portfolio’ cited by upstream chief Bernard Looney. (BP plc)
BP’s Strategy Update unveiled this week, subheaded ‘Getting back to growth’, shows a company keen to follow other European majors in expanding its gas portfolio – but in a slightly different way to the rest.
Speaking at BP’s strategy presentation in London on Tuesday, Chief Executive Bob Dudley said 60% of the company’s production would come from gas by the middle of the 2020s, up from 50% at present.
"To meet the demand for cleaner energy we are shifting towards gas by investing in new large-scale...
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