No obituaries yet, says BP Amoco chief

David Knott London In his first major public speech as Chief Executive Officer of new supermajor BP Amoco plc, John Browne pointed out the dark clouds currently passing over the industry, but also a faint silver lining. "Because restructuring usually involves the elimination of duplication and downsizing," Browne told the Institute of Petroleum in London on Feb. 16, "it can easily create the impression that the industry is in decline. That's an illusion, but it is a perception that is dangerously widespread. "We can't rely on other people to set prices at a level that gives us protection from real competition. We can'...

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