BP PLANS FURTHER COST CUTTING MOVES

British Petroleum Co. plc has started a new round of cost cutting measures. The measures include spending cuts and staff reductions to combat declines in crude oil prices and economic recessions in Europe and the U.S. Capital spending plans for 1992 have been trimmed to $6.5 billion from $7 billion. BP's three main businesses-BP Exploration, BP Oil, and BP Chemicals-have been asked to cut operations costs by the end of the year.

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