BP CEO: Geopolitical Uncertainty Poses Risk

The transcript covers BP's CEO discussing geopolitical uncertainties impacting oil stability, BP's purchase of BHP assets, and their focus on the Permian Basin. It includes projections for oil production, BP's investment strategy, and potential risks and market volatility. The CEO emphasizes maintaining discipline in investments and highlights the importance of technology and cost structures in oil production.

What is the primary reason BP is focusing on the Eagle Ford region before the Permian?

• Permian is not owned by BP.

• Eagle Ford has higher oil prices.

• Eagle Ford has fewer bottlenecks.

• Permian has no good properties.

How does BP view the production forecasts by Chevron and Exxon in the Permian?

• BP is not interested in the Permian.

• BP believes they are unrealistic.

• BP thinks they are possible at the right oil price.

• BP plans to exceed those forecasts.

What is BP's strategy regarding its investment scale compared to Chevron and Exxon?

• BP will maintain disciplined investments.

• BP plans to outspend them.

• BP will withdraw from the Permian.

• BP will match their investments.

Which geopolitical issue is NOT mentioned as a risk to the oil market?

• Venezuela's human tragedy

• Libya's production issues

• Russia's oil production

• US sanctions on Iran

How does BP plan to handle potential market volatility due to geopolitical risks?

• By selling off US assets

• By utilizing flexibility in US shales

• By increasing investments in the Permian

• By halting all projects