BP Unfazed by Recent Decline in Oil Prices

摘要

Acknowledging the "uncertain" outlook for oil prices, BP said Tuesday that weaker prices will likely impact its financial results going forward. However, with a robust balance sheet, low gearing and strong cash balances, the firm is prepared to withstand a period of oil prices as low as $80 per barrel, it added. Proceeds from the UK major's ongoing divestment program will provide additional financial flexibility, Chief Financial Officer Brian Gilvary told analysts during the company's third-quarter results presentation Tuesday.