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DARK SECRETS: 4 | Vintage Vibes

BP right to hold steady on climate targets despite below forecast profits

Although chief executive Murray Auchincloss has left himself room to pump more oil and gas, renewables should start generating greater returns

The Guardian - UK

BP plans cost cutting alongside multi-billion payday for investors as profits miss forecasts

New CEO at FTSE 100 oil multinational points to $2 billion in ‘cash cost savings’

Evening Standard

BP to cut $2bn in costs as profits miss forecasts

Oil company to maintain pace of share buybacks despite impact of falling gas prices

The Guardian - UK

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Abu Dhabi state oil company reportedly looked at buying BP

Adnoc decided move was not right fit but it is latest sign of foreign buyers circling UK firms

The Guardian - UK

BP claws back £1.8m from sacked boss Looney and hands new CEO £8m pay deal

Salary package for Murray Auchincloss branded ‘sickening’ by anti-fossil fuel campaigners

The Guardian - UK

BP hands new CEO Murray Auchincloss £8 million after predecessor Looney's shock exit

BP said it was “in our shareholders’ interest” to make him one of the top-paid bosses on the FTSE 100

Evening Standard

BP’s new boss should be clearer on green strategy – fudging pleases no one

Shareholders on all sides want to know where the oil giant stands on renewables, yet Murray Auchincloss opts for ambiguity

The Guardian - UK

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BP Bags Bumper 2023 Profits, Rewards Investors

British energy giant BP logged multi-billion-dollar annual profits Tuesday despite lower oil prices and following boardroom turmoil, sending its share price rallying thanks also to more big payouts to investors.

International Business Times

BP Reports Billion Profit in 2023 Despite Falling Energy Prices

BP reports earnings of billion in Q4 2023, surpassing expectations. Amid falling energy prices, the company remains confident in its strategy for growth...

Top News

BP CEO calls for pragmatism on green aims as profits halve

Murray Auchincloss says BP’s ‘aim’ to reduce oil and gas emissions by 20-30% was not confirmed as a ‘target’

The Guardian - UK

FTSE 100 Live 6 February: Index closes up 0.9% with BP topping risers

Barratt Developments is poised to buy Redrow after the housebuilders unveiled a surprise deal this morning.

Evening Standard

Bank of England’s Dhingra warns of ‘downside risks’ for UK economy; Adam Neumann ‘seeking to buy WeWork out of bankruptcy’ – as it happened

Rolling coverage of the latest economic and financial news, as BoE dove pushes for early cuts to UK interest rates to support economy

The Guardian - UK

BP’s green agenda all at sea as sinking profits forecast renews fossil fuel call

With gloomy financial results predicted, the company must weigh its net zero targets against demands for more oil and gas production

The Guardian - UK

Give BP’s ‘continuity candidate’ time to succeed or fail on net-zero strategy

There is method in the oil conglomerate’s decision that the best candidate for CEO is the one already doing the job

The Guardian - UK

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International Business Times

BP Picks New CEO Following Looney Sacking

British oil giant BP on Wednesday named veteran employee Murray Auchincloss as chief executive officer following a period as interim boss in the wake of Bernard Looney's sacking.

Evening Standard

BP names Murray Auchincloss as permanent CEO after shock departure of disgraced Bernard Looney

The move adds to a long tradition at the firm of appointing insiders to the CEO role rather than looking elsewhere – an approach that has had mixed results in the past

The Guardian - UK

BP names interim boss Murray Auchincloss as permanent chief executive

Former finance chief to replace Bernard Looney, who departed unexpectedly last year

The Guardian - UK

UK dealmaking shrinks in 2023, but economy predicted to ‘turn corner’ in 2024 – as it happened

PwC predicts inflation will fall near ‘normal levels’ in 2024, but corporate insolvencies are forecast to jump

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The Guardian - UK

BP’s interim boss struggles to be heard. But his message is right

‘Nothing’s changed’ stance by Murray Auchincloss needs time despite sceptism of investors

The Guardian - UK

BP plays down takeover speculation after lower than expected profits

Oil company’s future in doubt amid US mergers after shock exit of its chief executive Bernard Looney

Fortune

BP names Kate Thomson as interim CFO. Now, 3 major oil and gas companies have women at the helm of finance

Thomson brings deep technical knowledge together with a detailed understanding of the company, says BP's interim CEO Murray Auchincloss.

The Guardian - UK

New BP boss to replace Bernard Looney could be external hire, says chairman

Helge Lund says hiring process could lead to oil giant’s first external chief executive hire for decades

The Guardian - UK

BP needs a new chief executive not a slower strategy towards net zero

Oil firm should get out and argue the case for sticking to the transition timetable as Bernard Looney’s successor is sought

The Guardian - UK

BP shares fall after shock departure of chief executive

Bernard Looney resigned having admitted to failing to fully detail relationships with colleagues

Daily Mirror

BP fatcats set to rake in £18m a year as households struggle to pay energy bills

Chief executive Bernard Looney, 51, could take home an astonishing £11.7m along with finance boss Murray Auchincloss who could trouser up to £6.3m in pay and perks

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