| BP, the U.K. oil giant, is slashing costs as it prepares for a long-term low oil price environment. The company is now planning for around $60 per barrel price for Brent crude until at least 2017, after a sustained fall in the price of the commodity over the past year. It also plans a further $3-5 billion worth of asset sales next year.
Its share price rose by more than 2 percent in early London trading Tuesday following the announcement. There was good news for investors in the company's continued commitment to dividend payouts, with a quarterly dividend of 10 cents per ordinary share, expected to be paid in December...............................................Full Article: Source
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