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The Latest Breaking News from Helge Lund

BP launches cost-cutting scheme despite beating profit expectations

The business review comes just a few months after BP said it would save $4bn to $5bn by the end of 2027, relative to 2023 costs.

Euronews

BP confirms biggest oil and gas field discovery in 25 years – three times the size of Paris

The British energy firm have scaled back on renewable plans recently to refocus on fossil fuels

The Independent UK

Novo Nordisk Cuts Earning Forecasts Again, Names New CEO

Danish drugmaker Novo Nordisk, known for its blockbuster diabetes and weight-loss treatments Ozempic and Wegovy, on Tuesday lowered its earning forecasts again as it unveiled a new chief executive to tackle "recent market challenges".

International Business Times

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BP appoints new chair to oversee shift back to fossil fuels

Albert Manifold, ex-boss at buildings material company CRH, to take over from embattled Helge Lund

The Guardian - UK

BP appoints former CRH boss Albert Manifold as new chairman

Mr Manifold will join the oil giant as chairman-elect on September 1 before taking over from Helge Lund as chairman on October 1.

Evening Standard

FTSE 100 Live 21 July: Ryanair profits surge, BP appoints new chair

Mining stocks surged by as much as 4% today as the FTSE 100 index held its 9000 position at the start of a busy week for corporate earnings.

Evening Standard

BP Profit Drops 70% Amid Pivot Back To Oil And Gas

Britain's BP said on Tuesday net profit plunged in the first quarter as the struggling energy giant undergoes a major overhaul back to its fossil fuel business.

International Business Times

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Major shareholder revolt against BP chairman amid climate clash

Shareholders delivered a massive rebuttal for Helge Lund’s reappointment amid tensions.

Evening Standard

BP suffers investor rebellion at first AGM since climate strategy U-turn

Nearly a quarter of shareholders vote against the chair, Helge Lund, as green protesters are blocked from entering

The Guardian - UK

BP set for shareholder clash over climate goals as AGM season kicks off

The oil major’s board is likely to face conflicting pressures from shareholders against a backdrop of confusion and uncertainty for investors.

Evening Standard

BP dropped its green pledges and turned back to oil. Now the price of crude has collapsed

At its AGM this week, the company will face not only the activist investor at its heels, but a global economy being changed from the White House

The Guardian - UK

FTSE 100 suffers biggest daily decline since start of pandemic

The index plummeted by 419.75 points, or 4.95%, to close at 8,054.98.

Evening Standard

BP chairman to step down after oil giant retreats from green energy

BP kick-started a search for a new chair after Helge Lund told the board he intends to leave the role ‘in due course’.

The Independent UK

BP Chairman To Step Down After Energy Strategy Reset

BP in February launched a major pivot back to its more profitable oil and gas business, shelving its once industry-leading targets on reducing carbon emissions and slashing clean energy investment.

International Business Times

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The Guardian - UK

BP chair to resign amid pressure from shareholders over green agenda

Helge Lund likely to leave post in 2026, with investor opposition having derailed net zero plans

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

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

The Guardian - UK

BP to review personal relationships between staff to root out ‘problematic’ conduct

Exclusive: oil giant to put particular focus on senior managers after shock departure of CEO Bernard Looney

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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

Climate protesters disrupt BP’s shareholder meeting in London

Oil company’s decision to water down climate commitments prompts backlash from investors at AGM

The Guardian - UK

BP facing green rebellion at annual shareholder meeting

Some of UK’s biggest pension funds preparing to demand tougher plans to reduce emissions by 2030

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