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BP promises strategy reset

BP promises fundamental reset as Q4 profit hit four-year low

BP reported quarterly profit of $1.17 billion on Tuesday, weaker than expected and the lowest in four years, while the company promised to reset its strategy, after news broke at the weekend that investor Elliott Management had built up a stake.

The Financial Times · 3h

BP pledges ‘fundamental reset’ of strategy as profits sink

BP has pledged to “fundamentally reset” its strategy and improve its performance as the struggling oil major reported a steep drop in profits for the final quarter of last year.

CNBC on MSN · 3h

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

British oil major BP on Tuesday posted a sharp drop in fourth-quarter profit, pledging to "fundamentally" reset the embattled energy company's strategy.

This Is Money on MSN · 2h

BP boss pledges strategy reset as profits hit four-year low

The chief executive of BP has vowed to 'fundamentally reset' the group's strategy after its annual profits fell by more than a third last year.

BP Earnings Miss. How Elliott Stake News Is Affecting Stock.

Reuters · 21h

BP shares climb on prospect Elliott stake will drive change

Shares in BP rose by 7% on Monday, and were on track for the biggest daily gain in two years, as investors anticipated that activist shareholder Elliott Management will press for board changes and strategy shifts to boost returns.

Bloomberg L.P. · 1d

BP Faces Pivotal Moment as Activist Investor Elliott Enters Fray

BP Plc’s dramatic under-performance compared with other oil majors has reached a crunch point — a looming showdown with one of the world’s most aggressive activist investors.

Barron's on MSN · 47m

BP Earnings Miss. 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 plans six new gas wells to sustain output from Azeri Caspian Sea field

BP plans to add six new wells to its operation in Azerbaijan's Shah Deniz gas field in the Caspian Sea to ensure stable ...

New York Post25d

BP cuts nearly 5,000 jobs in wake of ex-CEO Bernard Looney scandal

Around 4,700 employees and 3,000 contractor positions will be cut this year from a workforce of around 90,000, according to an an internal memo seen by Reuters. BP shares were up 1% in morning ...

U.S. News & World Report26d

BP Cuts Over 5% of Workforce to Reduce Costs

BP Cuts Over 5% of Workforce to Reduce Costs By Ron Bousso LONDON (Reuters) -BP will cut over 5% of its global workforce, it said on Thursday, as part of CEO Murray Auchincloss' efforts to reduce ...

3hon MSN

BP's quarterly earnings at four-year low as weak margins dent refining business

BP's fourth-quarter profit fell to $1.17 billion on Tuesday, marking the lowest earnings for the oil major in four years as ...

Daily Sabah6d

BP expected to invest up to $25 billion in Iraq’s Kirkuk oil, gas

Energy giant BP is projected to invest up to $25 billion over the life span of a project to redevelop four Kirkuk oil and gas ...

Seeking Alpha6d

BP may spend up to $25B to develop four oil and gas fields at Iraq’s Kirkuk - Reuters

BP (NYSE:BP) is expected to spend as much as $25B to redevelop four Kirkuk oil and gas fields, Reuters reported Tuesday, citing an unnamed senior Iraqi oil official, as the country seeks to win ...

BP now stands for ‘Best Partitioned’

BP made a big deal of repositioning itself as “Beyond Petroleum”. Then-CEO John Browne’s attempt to embrace lower-carbon ...

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