S&P continues to see potential to upgrade BP after strategy update

LONDON, Feb 14 (Reuters) - Ratings agency S&P Global said on Friday it continued to see potential for a ratings upgrade for British energy firm BP after its long-term strategy update and full-year results.

"We continue to see potential for an upgrade, as signalled by the positive outlook, especially if net debt is reduced by $10 billion or more," the agency said in a note.

"BP has reaffirmed its financial framework as it plans to refocus the mix of its investments and businesses away from oil and gas over the coming decades, to 2050," it said.

(Reporting by Ron Bousso; Editing by Edmund Blair)