BP to cut capex, sell assets for $20bn payout

Team BP: chief executive Tony Hayward and chairman Carl-Henrik Svanberg walk into a meeting at the White House.

BP will slash its capital spending budget, sell $10 billion in assets and drop its dividend to pay for a $20 billion spill response fund.

User

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login