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BP's US head quiet on acquisitions speculation

08 January 2009

BP's incoming head of US operations is remaining decidedly quiet on the topic of future oil and gas acquisitions during this turbulent economic period.

Speaking to the Houston Chronicle, Lamar Mckay, who will succeed Robert Malone as the regional head of operations, expressed his commitment to continued growth but refused to be drawn on whether the company would be undertaking takeovers in the coming months.

"BP has put the focus on safety and operational integrity and that has been a big shift," said the departing Malone, adding that the company has developed a clear accountability structure for all facilities and projects on the continent.

Meanwhile, Mckay said that while he would not comment on an acquisition strategy, he would commit to the development of deepwater projects, onshore gas plays and modernising refineries in the mid-west.

When Mckay takes over Malone will retire after 34 years with the company.

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Author: Administrator User