Aug 1 (Reuters) - BP Plc
* BP’s Dudley says "continue to position BP for new oil price environment, with continued focus on costs, efficiency and discipline in capital spending"
* "upstream major projects on track; two new projects sanctioned in quarter"
* BP expects divestments of $4.5-5.5 billion in 2017, with proceeds weighted to the second half of the year
* BP continues to intend to keep annual organic capital expenditure in the range $15-17 billion
* "BP continues to target a gearing range of 20-30%."
* "Expect third-quarter reported production to be broadly flat with the second quarter"
* At the end of the second quarter, gearing was 28.8% Source text for Eikon: Further company coverage: