BP to Invest $1.8 bln in Egypt

BP Chief Executive Bob Dudley on Monday said the company will invest about $1.8 billion in Egypt this year and he expects a crude oil price of $50-65 a barrel over the next year.

Dudley added that the current oil price is healthy and fair and that the market feels balanced.

(Reuters, Reporting by Nadine Awadalla and Aidan Lewis; Writing by Eric Knecht and Yousef Saba; Editing by David Goodman)