BP Slashes Spending, Braces For Oil Prices To Stay Low | Forbes

February 3, 2015 ~ knjohn ~ Leave a comment

Add BP to the list of oil companies slashing their spending in the wake of tumbling oil prices.

The company said Tuesday it was lowering its budget for exploration and production this year to $20 billion, down significantly from previous forecasts of $24 billion to $26 billion.

“We have now entered a new and challenging phase of low oil prices through the near and medium term,” said CEO Bob Dudley, adding that ”our focus must now be on resetting BP” and maintaining safe operations.

Analysis: Delta deal raises ghosts that haunt refinery profits | Reuters

May 16, 2012May 16, 2012 ~ CBPS ~ Leave a comment

For Delta, which consumed roughly 250,000 bpd of jet fuel last year at a cost of $12 billion, analysts said the benefit of having a cheap supply of the fuel from Trainer could give it an advantage over rivals in the New York area, where it is expanding services.

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