The sale is part of BP's US$10 billion divestment programme to help the company shore up its balance sheet.
The International Energy Agency predicts regulatory changes to curb carbon emissions will mean demand for electricity will grow much faster than that for oil as Asia's power-hungry middle class expands.
Both companies say their methodologies have existed for years, suggesting they aren’t just implemented because they yield convenient results.
Bob Dudley says that unlike Saudi Arabia and Russia, the US shale market responds purely to oil prices.
The US administration this month imposed fresh sanctions on Russia over the March poisoning of a former Russian agent and his daughter in the UK.
Melbourne-based BHP will also sell its Fayetteville operation to a Merit Energy Co unit for about US$300 million to complete its exit from the shale sector.
The pipeline bypasses Russia and has been supported by the European Union, which is keen to reduce Europe's energy dependence on Moscow.
The British oil major entered into an agreement to buy Chargemaster, which has more than 6,500 charging points across the UK, according to a statement Thursday.
Many of Cambridge University's students and academics have been pushing the university to reduce its investments in fossil fuels.
The company will install more charging points at BHPetrol service stations to cater to the demand.
"They (the management staff) have seen the movie, they are a little bid saddened by it," Dudley said, adding that the film took sides by painting a picture of "heroes and villains".