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CERAWEEK-BP CEO says doesn't see consolidation unless low oil prices prolonged

Reuters - UK Focus

HOUSTON, April 21 (Reuters) - BP Plc Chief Executive Bob Dudley doesn't see a consolidation boom in the oil industry unless low crude prices linger, he said on Tuesday at the IHS CERAWeek energy conference in Houston.

"I don't actually see the forces at work for lots of consolidation unless the price of oil stays down for quite some time," Dudley said.

He also said he would not rule out more investment in Russia, while stressing the company would not ever violate U.S. sanctions there. (Reporting By Kristen Hays and Anna Driver)