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BP Planning Billions in Sales for 2016; Talks Spending Outlook
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BP reported its results for the full year and fourth quarter of 2015. Underlying replacement cost profit for the full year was $5.9 billion, compared with $12.1 billion reported for 2014, down 51%. The underlying result for the fourth quarter was $196 million compared with $2.2 billion for the fourth quarter of 2014.
Key Points: BP has now completed the $10 billion divestment programme announced in October 2013 and plans a further $3-5 billion during 2016. Organic capital expenditure for 2015 was $18.7 billion. BP expects annual organic capital expenditure to remain between $17 and $19 billion in 2016 and 2017 and to be at the lower end of that range in 2016. In the Upstream, during 2015 BP gained new access in Egypt and the Gulf of Mexico. It also extended its relationship with Rosneft…- ✓ Full news archive — U.S., Canada & international coverage
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