LONDON (Reuters) - Oil major BP said on Wednesday it would spend $1 billion (£637.5 million) on group-wide restructuring in the coming year as it laid out its long-term plans for its upstream oil and gas business. The British company said as part of its programme to simplify across its upstream and downstream activities and corporate functions, it expected to incur the charges over the next five quarters, including the current quarter. In light of the current outlook for oil prices, BP said it would also review its capital expenditure plans for 2015. ...
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