BP (BP +1.5%) isn't likely to see the full financial benefits of the $4B upgrade at its 405K...


BP (BP +1.5%) isn't likely to see the full financial benefits of the $4B upgrade at its 405K bbl/day Whiting refinery in Indiana until 2014, although the project remains on target to wrap up in H2 2013, CEO Bob Dudley tells analysts. The Whiting upgrade is a key to BP's strategy of focusing on its three U.S. northern tier refineries that can tap cheap inland U.S. crude and even cheaper Canadian crude.

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