BP's Dudley in 'non-conventional' oil and gas pledge
BP chief executive Bob Dudley is understood to have told analysts at a private dinner that he was keeping a "watching brief" on unconventional oil and gas assets.
The energy giant is rarely associated with some of the more unusual sources of energy, such as fracturing fine-grained shale rock to reach tightly bound gas reservoirs. Such exploration is on the rise in the industry, as easy-to-access oil and gas sources dwindle. However, at an analysts' dinner on Wednesday, Mr Dudley asked guests what they thought about the potential of shale gas. An attendee said: "Dudley sees non-conventional as a long-term, important part of the business to 2030. They will keep a watching brief in non-conventional assets ... and he asked what we thought of US shale gas."
BP already has some US shale investments, but has limited its work there while the country's gas prices are so low. It is also believed that Mr Dudley expressed some doubt about the potential of European shale gas, which is deeper and harder to reach.
Mr Dudley dined with the analysts after BP's third-quarter results last week, when he declared that the company had reached a "definite turning point" following last year's Gulf of Mexico spill.
- 1 Liam Gallagher brands Kanye West 'utter s**t' during BRIT Awards performance
- 2 Isis burns thousands of books and rare manuscripts from Mosul's libraries
- 3 People who sleep more than eight hours are more likely to have a stroke, research shows
- 4 Kanye West climbs on table at Nando's to crowd chants of 'Yeezus' before Brit Awards 2015 performance of 'All Day'
- 5 New theory could prove how life began and disprove God
Oscars 2015: Birdman beats Boyhood as Eddie Redmayne and Patricia Arquette win big - as it happened
New theory could prove how life began and disprove God
Half of Ukip voters say they are prejudiced against people of other races
'Cash for access' scandal: Sir Malcolm Rifkind says 'unrealistic' for MPs to live on £67,000 salary
Aqsa Mahmood branded a 'disgrace' by her parents after claims she recruited three UK girls flying to Middle East
This is what it's like to be dead, according to a guy who died for a bit
iJobs Money & Business
£17000 - £25000 per annum: Recruitment Genius: An opportunity to join this new...
£18000 - £21000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£20000 - £25000 per annum + OTE £45,000: SThree: SThree Group have been well e...
£36000 - £44000 per annum: Recruitment Genius: Encouraging more businesses to ...