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 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 pledges strategy reset as annual profit falls by a third
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.
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 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 quarterly profit falls by 61% to lowest level since 2020
BP's fourth-quarter profit fell 61% to its lowest level since 2020.
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 posts 60% profit drop as CEO promises ‘fundamental reset’ of strategy
UK supermajor BP saw its profit drop 60% in the fourth quarter of 2024, slightly missing analyst forecasts, as chief executive Murray Auchincloss promised the company strategy is ripe for a “fundamental reset”.
BP pledges reset as annual profit dips below $9 billion
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 $8.9 billion follows weekend reports Elliott Investment Management has built a stake in the company,
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 ...
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 ...
BP Earnings Hit 4-Year Low. How the Elliott Stake Is Affecting the Stock.
The oil and gas major now has an influential activist investor. That puts even more pressure on CEO Murray Auchincloss.
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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 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.