BP Claims High Oil Prices Will Benefit Its Strategy

High oil prices will benefit BP’s strategy of reducing its exposure to oil and gas while simultaneously rewarding shareholders, chief executive Bernard Looney told Reuters on Tuesday. “High oil prices are very good for our strategy and our shareholders will benefit from that, especially through our buyback programme,” Looney said in an interview at the Reuters Events: Global Energy Transition conference. Since taking over from Bob Dudley as CEO at BP in early 2020, Looney has unveiled a strategy to make the UK-based supermajor…