BP CEO Looney Aims to Drive Down Breakeven Price to $40 by 2021

The transcript discusses BP's approach to oil price modeling, emphasizing the unpredictability of future prices and the need for cash flow models. It highlights BP's strategy to lower its break-even point to $40 per barrel, ensuring resilience across various scenarios. The company aims to balance shareholder priorities, including gearing, dividends, and energy transition. BP is committed to capital discipline, maintaining a $15-17 billion range, and plans to increase investments in low-carbon businesses while reducing oil and gas investments. The investment framework focuses on generating scale, adding value, and ensuring competitive returns.

How does the speaker view the relationship between investing in energy transition and capital discipline?

What is the framework for investment decisions mentioned by the speaker?