BP looks at lowering spending after oil price crash

LONDON: BP (BP.L) is “making interventions” to reduce capital and operational spending in the wake of the recent collapse in oil prices, Chief Executive Bernard Looney said in a statement on Friday.

In response to the coronavirus spread, BP employees were instructed to work from home, with the exception of critical operations, and the company will hold no large meetings and restrict travel, Looney, who took office a month ago, said on LinkedIn.

BP employs 73,000 people.