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BP. Bp Plc

495.70
2.90 (0.59%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bp Plc LSE:BP. London Ordinary Share GB0007980591 $0.25
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  2.90 0.59% 495.70 496.00 496.10 498.75 493.30 495.45 36,110,224 16:35:27
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Petroleum Refining 211.6B 15.24B 0.8934 5.55 84.61B

BP to Book $1 Billion of Restructuring Charges

10/12/2014 9:40am

Dow Jones News


Bp (LSE:BP.)
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By Rory Gallivan 

LONDON-- BP PLC expects to book $1 billion in restructuring charges over the next year as it simplifies its operations and corporate activities.

The oil major on Wednesday said it would incur the costs over the next five quarters, including the current quarter, as part of a wider group-wide program to simplify its upstream and downstream activities and corporate functions.

The company said details of the charges and further guidance on the program would be given with each quarter's results.

"The simplification work we have already done is serving us well as we face the tougher external environment," Chief Executive Bob Dudley said. "We continue to seek opportunities to eliminate duplication and stop unnecessary activity that is not fully aligned with the group's strategy."

Write to Rory Gallivan at rory.gallivan@wsj.com

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