Hayward Sees Oil, Gas Prices Staying `Stronger,' Telegraph Says

By Howard Mustoe

July 30 (Bloomberg) -- Tony Hayward, chief executive officer of BP Plc, said the long-term trend for gas and oil prices is likely to cause difficulties for consumers, the Daily Telegraph reported.

He said there was ``an increasing likelihood that oil and gas prices will be stronger for longer,'' according to the newspaper, citing Hayward speaking yesterday.

While earlier this year the CEO said the era of cheap energy was at an end, yesterday he said events are ``playing out even faster than any of us expected,'' according to the Telegraph.

Separately, BP rejected suggestions it may sell its alternative energy unit, run by Vivienne Cox, or arrange to sell shares in the division, the newspaper said.

To contact the reporter on this story: Howard Mustoe in London at hmustoe@bloomberg.net.