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| Name | Symbol | Market | Type |
|---|---|---|---|
| BP Plc | NYSE:BP | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.04 | 0.10% | 38.71 | 38.74 | 38.11 | 38.48 | 8,071,028 | 01:00:00 |
From May 2019 to May 2024
By Tapan Panchal
LONDON--BP PLC (BP.LN) said Tuesday it expects both of its major operating segments -- upstream and downstream -- to deliver material growth in operating cash flows in the next five years.
Upstream growth is expected to come from major higher-margin project startups, while the downstream is expected to benefit from strong marketing-led growth, the company said.
Upstream cash flow is expected between $13 billion and $14 billion and downstream between $9 billion and $10 billion. The cash flow figures are based on the oil price falling to around $35 to $40 per barrel in 2021.
The oil company added that it intends to maintain its existing financial frame throughout the five years to 2021, with organic capital expenditure within a range of $15 billion to $17 billion a year and the target band for gearing remaining at 20% to 30%.
At 1351 GMT, BP shares were trading 0.3% higher at 453 pence.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
February 28, 2017 09:19 ET (14:19 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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