BP’s Browne Says Access to Oil Reserves Is Restricted

International oil companies face a “serious problem” gaining access to the world’s largest oil reserves as they look to expand production, BP Plc Chief Executive Officer John Browne said.

While the world has “plenty of resources,” access to the biggest deposits is restricted by some governments, Browne said. The biggest oil and gas fields are in the Middle East, including Saudi Arabia, Iran and Iraq, and in Russia and West Africa.