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The Latest Breaking News from Murray Auchincloss

Oil Giant BP Cuts Thousands Of Jobs To Slash Costs

British energy giant BP on Thursday said it would axe 4,700 staff jobs, or about five percent of its workforce, and is cutting thousands of contractor roles to reduce costs.

International Business Times

Fears for Scottish jobs as BP to slash global workforce numbers

BP HAS said it will cut 4700 jobs across its global workforce and 3000 contractor roles as part of a cost-saving drive, prompting concerns for…

The National (Scotland)

BP to cut 4,700 jobs and 3,000 contractor roles to help save £1.6bn

Oil company to lose 5% of its staff in effort to cut costs amid shareholder worries over green energy strategy

The Guardian - UK

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BP to axe 4,700 jobs globally amid cost-cutting drive

The oil giant, which announced the cuts in a staff memo, has about 90,000 workers globally and 14,000 in the UK.

Evening Standard

BP announce plans to cut 4,700 jobs in £1.6bn cost-cutting drive

The energy firm is aiming to save two billion US dollars across two years

The Independent UK

BP delays investor event as boss Murray Auchincloss recovers after medical procedure

BP boss Murray Auchincloss is ‘recovering well’ and will be back in the office by February

The Independent UK

BP reveals boss recovering after medical procedure as it signals weaker trading

Chief executive Murray Auchincloss is ‘recovering well’ and will be back in the office by February, the group said.

Evening Standard

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It’s tough at the top – but which business leader has the most at stake in 2025?

From post and planes to TV, phones and retail chains – and even a central bank – here are the chiefs facing the most testing of times

The Guardian - UK

BP shifts offshore wind to joint venture amid retreat from renewables

Energy company’s deal with Japan’s Jera will allow it to focus on exploiting oil and gas assets

The Guardian - UK

Investors need clarity on BP policy not boss’s weak promises

Shareholders still do not know if giant will jettison goal to cut oil and gas production by 25% by 2030

The Guardian - UK

BP posts weakest quarterly profits in almost four years amid lower oil prices

Energy company says it plans to cut at least $2bn of cash costs from the business by the end of 2026

The Guardian - UK

BP profits slump as faltering demand hits refining margins

The energy giant said profits were down more than 30% compared with the same period a year earlier, amid faltering oil demand globally.

The Independent UK

BP ‘abandoning plan to cut oil output’ angers green groups

Reports of strategy reset leave campaigners saying company is prioritising profits over planet

The Guardian - UK

Oil Giant BP Reports Tumbling Profits In First Half

BP on Tuesday announced tumbling profits for the first half, with the British oil and gas giant hit by depreciation of assets and falling revenue.

International Business Times

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The Guardian - UK

BP has scaled back its green energy plans – don’t be surprised if it happens again

The oil major’s net zero plans have made it a sector leader but have yet to win over investors while fossil fuels are booming

The Guardian - UK

BP imposes hiring freeze and halts new offshore wind projects

New boss Murray Auchincloss reverses move away from fossil fuels, which had weighed on company’s share price

The Guardian - UK

BP staff risk sack if they fail to disclose intimate relationships with colleagues

New policy follows sacking of ex-CEO Bernard Looney with top managers given three months to report all relationships in past three years

The Guardian - UK

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

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Evening Standard

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’

The Guardian - UK

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

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

Evening Standard

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

The Guardian - UK

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

International Business Times

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.

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