BP Vows ‘Fundamental Reset’ in Strategy as Profit Plunges
The energy giant was vague on details, but analysts say the changes is likely to include less spending on renewable sources and a bigger investment in oil and natural gas production.
BP executive promises 'reset' after profits fell in 2024
BP Chief Executive Murray Auchincloss promised a "reset" for the company, including dialing back climate commitments, on Tuesday after a dip in annual profits and a threat from an influential activist investor.
BP’s ‘Fundamental Reset’ Sets High Bar for Auchincloss
The chief executive officer says he’s met with shareholders constantly this past year, and the market will like oil major’s new direction.
BP pledges strategy reset as annual profit falls by a third
By Arunima Kumar (Reuters) -BP CEO Murray Auchincloss pledged on Tuesday to fundamentally reset the company's strategy as it reported a 35% fall in annual profits, missing analysts' expectations. The drop in profit to $8.
BP's Strategic Overhaul Amidst Falling Profits
BP CEO Murray Auchincloss announced plans to fundamentally revise BP's strategy after the company reported a 35% drop in annual profits. This decline intensifies pressure following Elliott Investment Management's stake acquisition.
BP vows ‘fundamental reset’ as profit plunges
BP is likely to reduce spending on low-emissions energy technologies like wind and hydrogen and try to boost oil and natural gas production, analysts say.
BP CEO Says Oil Major’s Big Reset Has Been a Year in Making
BP Plc CEO Murray Auchincloss insisted that the company’s “fundamental reset” has been in the works for a year, while refusing to comment on an analyst’s question about whether he’s had engagement with activist Elliott Investment Management.
BP Touts ‘New Beginning,’ Fundamental Change in Strategy
BP said profit fell more than expected and that it would reset its strategy, days after reports that activist hedge fund Elliott Management is pushing for change at the company.
BP Promises Big Changes After Attracting An Uninvited Guest
After a quarter century of lagging behind competitors, British oil giant BP has attracted the attention of big hedge fund ...
devdiscourse10h
BP's Strategic Overhaul: Navigating Profit Decline and Investor Demands
BP CEO Murray Auchincloss announced plans to reset the company's strategy after a 35% decrease in annual profits, missing ...
BP's Quarterly Earnings at Four-Year Low as Weak Margins Dent Refining Business
(Reuters) - BP's fourth-quarter profit fell to $1.17 billion on Tuesday, marking the lowest earnings for the oil major in ...
BP Earnings Hit 4-Year Low. How Elliott Stake News Is Affecting the Stock.
The oil and gas major now has an influential activist investor. That puts even more pressure on CEO Murray Auchincloss.
BP faces pivotal moment: Board in firing line as activist Elliott sets scene for shake-up
Investors are frustrated at the valuation gap between BP and its London-listed rival Shell, as well as US energy giants ...
BP outlines strategic reset with focus on refining improvements and upstream growth in 2025
Q4 2024 Management View CEO Murray Auchincloss highlighted significant strategic progress in 2024, including 10 new final investment decisions (FIDs), such as Kaskida and Tangguh, new access in Iraq ...
FTSE 100 Live 11 February: BP strategy reset in focus after profits fall, Entain shares slide on CEO exit
A four-year low for BP quarterly profits today heightened the focus on the oil giant’s plans for a major strategy reset.