BP unlikely to invest in Saudi Aramco IPO - CEO
MOSCOW, June 16 (Reuters) - Oil major BP Plc is unlikely to invest in Saudi Aramco's IPO, Chief Executive Bob Dudley told reporters at the St Petersburg International Economic Forum on Thursday.
"It (Other OTC: ITGL - news) 's unlikely we would be a financial investor in Saudi Aramco," he said.
Dudley also said the global oil industry needed to readjust its costs based on an oil price of around $50 per barrel. (Reporting by Katya Golubkova and Dmitri Zhdannikov; Editing by Jack Stubbs)