BP will sign a deal worth around £11.8 billion ($20 billion) with China to supply its National Offshore Oil Corporation (CNOOC) with liquefied natural gas, Chief Executive Bob Dudley said.
"It is a 20-year supply agreement on LNG. It is a fair price for them and a fair price for us. It is a good bridge between the UK and China in terms of trade," Mr Dudley said.
More top news
Police are appealing for news of Connor Jarvis, 19, after he did not return from a solo holiday in Marrakech as planned.
The high-tech new notes due to be released in September have one major drawback - they can stick to each other, the bank has said