BP pledges ‘fundamental reset’ of strategy as profits sink

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BP has promised to “recover” its strategy in principle and improve its presentation, as the main major of oil is a sharp decline in profit for the last quarter of the previous year.

Tuesday group reports that the profit of $ 1.17 billion for the period compared to the previous quarter was in the last quarter in the fourth quarter of 2023.

Chief Executive Murray Auchirlis has faced a new strategy after several quarters of the resulting results about the concerns about the aggressive pressure of the group at the cost of renewable energy and shares.

In Tuesday’s statement, Auchincloss promised to raise the “cash flow and return” and said that he would present a “new direction” Thread“The day of investors on February 26.

Pressure on BP intensified this week after it appeared that the US activist investor Elliott Management had He built a stake In the company.

Although Elliott’s Stake is unknown, another BP shareholder said that the group’s holding means that the main change in oil in London was now inevitable.

This is a developing story