By June 16, 2016 Read More →

BP unlikely to invest in Saudi Aramco IPO – CEO

Saudi Aramco IPO

At the St Petersburg International Economic Forum, BP CEO Bob Dudley said his company is unlikely to invest in the Saudi Aramco IPO. REUTERS/ Ali Jarekji/File Photo.

BP unlikely to invest in Saudi Aramco IPO – CEO

MOSCOW, June 16 (Reuters) – Oil major BP Plc is unlikely to invest in the Saudi Aramco IPO, Chief Executive Bob Dudley told reporters at the St Petersburg International Economic Forum on Thursday.

“It’s unlikely we would be a financial investor in Saudi Aramco,” he said.

Dudley also said the global oil industry needed to readjust its costs based on an oil price of around $50 per barrel.

(Reporting by Katya Golubkova and Dmitri Zhdannikov; Editing by Jack Stubbs)

Posted in: News

Comments are closed.