BP to spend $9.3B on Australian retail business, exploration

BP (NYSE:BP) is planning to spend A$10B ($9.3B) over the next decade on expanding its gas station network and developing oil and gas projects in Australia.

The new objective is fueled by BP's new focus on expanding its retail business on the continent, while scaling back on refining operations.

"The big opportunities we’re after is at the customer end of the business," says President Andy Holmes "Filling stations...that’s the area where we’re turning up our focus."

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