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At its Investor Day, BP (BP -0.4%) puts forward plans to ramp up capex to $24B-$27B between...

At its Investor Day, BP (BP -0.4%) puts forward plans to ramp up capex to $24B-$27B between 2014-20 in a portfolio radically changed by its deal with Rosneft and post-Macondo selloff program. BP says it will take aim at fewer, higher-margin upstream plays, with a particular emphasis on deepwater oil plays including Angola, Azerbaijan, the Gulf of Mexico and the North Sea. (earlier)
Comments (1)
  • stfual
    , contributor
    Comments (9) | Send Message
    Interesting choices. I suspect that a dollar invested in the gulf is now higher risk than a dollar invested in Russia or Angola. It may be difficult to enforce contracts outside the US and western Europe, especially if you appear to be making more money than the people you are partnering with, but they are tolerant of mistakes because focusing on past problems stops business.


    Inside the USA the administration and legal system will jointly bleed you dry for years if you make a mistake . The question is never who is guilty it is who has the money and how much can we take.
    3 Dec 2012, 09:47 PM Reply Like
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