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The Latest Breaking News from British Petroleum

BP expected to scrap renewables target in shift back to fossil fuels

Goal of increasing renewable energy generation 20-fold to be ditched, shareholders to be told this week

The Guardian - UK

FTSE 100 falls after plunging consumer confidence report

Polling by the British Retail Consortium found expectations for the economy worsened for the fifth consecutive month in February.

Evening Standard

BP investors demand vote on any plans to scrap climate goals

The oil giant is expected to go back on a promise to reach net zero carbon emissions by 2050 at a strategy meeting next week.

Evening Standard

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Hedge fund’s BP stake worth £3.8bn as firm expected to ditch green promises

Activist investor Elliott Management is expected to push for BP to pivot back towards traditional oil and gas.

Evening Standard

Activist hedge fund reportedly amasses £3.8bn stake in BP

Elliott Management expected to demand strategy changes including pushing to abandon green energy pledge

The Guardian - UK

Time for BP’s chair to head for the exit

Helge Lund is too closely tied to share price failure and BP’s inability to carry its investors with it

The Guardian - UK

FTSE 100 nudges up despite Trump steel tariffs

The blue-chip index has hit a succession of record highs in recent weeks.

Evening Standard

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BP Pledges Strategic 'Reset' As Profit Tumbles

Britain's BP on Tuesday said its annual net profit slumped 97 percent last year, as the struggling oil and gas giant pledged to "fundamentally reset" its strategy.

International Business Times

BP and Shell profits more than double UK climate commitments, new figures show

BP and Shell profits in 2024 more than double the UK’s climate financial commitments, new figures show ...

The National (Scotland)

BP profits slump to four year low as activist shareholder circles

Disappointing results come weeks before major investor update on new strategy

Evening Standard

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

The FTSE 100 firm reported a 36% drop in profits to £7 billion, as speculation grows that it will turn away from renewables to improve returns.

Evening Standard

BP chief says it will ‘fundamentally reset’ amid threat of activist investor

Murray Auchincloss promises improvements after annual profits fell to $8.9bn last year from almost $14bn in 2023

The Guardian - UK

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.

Evening Standard

FTSE 100 strikes another record high as BP shares jump

The FTSE 100 finished 67.27 points, or 0.77%, higher to end the day at 8,767.80.

Evening Standard

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The Guardian - UK

BP shares jump after feared US hedge fund Elliott takes stake

Activist fund predicted to push for overhaul of oil company’s strategy and shake-up of board

Evening Standard

BP shares jump after activist investor reportedly buys stake

The reported stake-buying by Elliott has fuelled speculation over strategy changes at the oil giant and an overhaul of its management.

The Guardian - UK

An existential risk: can BP avoid becoming a prime takeover target?

CEO has ‘narrow window’ to come up with positive shift in strategy to win back investor confidence, say analysts

The Guardian - UK

Norwegian firm lobbying to open Rosebank oilfield halves green investments

State-owned Equinor becomes latest fossil fuel firm to backtrack on clean energy pledges with move to halve budget to $5bn

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The Guardian - US

Trump has brought much-needed attention to a site of great tragedy: the Gulf of Mexico

Environmental disasters have plagued the water body for decades. Now the region is thrust in the global spotlight

The Guardian - AU

Australian chefs on the after-school meals they cooked as kids: ‘I still eat this dish today’

From chilli-laced Thai salad to instant noodles, Palisa Anderson, Junda Khoo, Jung Eun Chae and Rowena Chansiri reveal the childhood dishes they’d make when they arrived home ravenous

International Business Times

2025 Layoffs: Meta, Microsoft, And BlackRock Join The Trend Amid AI Shift

While workforce cuts raise concerns, the tech sector is poised for significant growth, with jobs in big data, fintech, and AI expected to double by 2030.

The Independent UK

Miliband only met with fossil fuel giants ahead of controversial emissions plan

Some scientists say carbon capture and storage can be used to decarbonise industries that would take years to clean up – but campaigners say it just prolongs the oil and gas industry

Evening Standard

What the papers say – January 17

Here are the stories leading Friday’s newspapers.