British oil major BP reports sharp drop in fourth-quarter profit, vows strategy reset

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 Teases Fundamental Reset of Strategy to Boost Returns and Cash

BP (NYSE: BP) on Tuesday pledged to fundamentally reset its strategy as it booked its lowest annual and quarterly profits in years and seeks to push up its stock performance and regain investor trust. “Building on the actions taken in the past 12 months, we now plan to fundamentally reset our strategy and drive further improvements in performance, all in service of growing cash flow and returns,” BP’s chief executive Murray Auchincloss said in a…

BP vows ‘fundamental reset’ after net zero shift

Oil giant suffers hit as it comes under pressure from a US activist investor

BP boss vows to ‘reset’ strategy after annual profits slump

The FTSE 100 firm reported a 36% drop in underlying replacement cost profits to £7.22 billion in 2024.

BP boss confirms 'new direction' on 2024 profit slump

BP (LON: BP) chief executive Murray Auchincloss has vowed to reveal a "new direction" for the energy giant as investors seek "transformative" change. The post BP boss confirms ‘new direction’ on 2024 profit slump appeared first on Energy Voice.

BP profits drop as it says it will reset strategy

The oil giant is widely expected to say it will scale back on renewables later this month.