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The Latest Breaking News from Murray Auchincloss

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

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

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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

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

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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

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

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...

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The Guardian - UK

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’

Evening Standard

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.

The Guardian - UK

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

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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

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

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

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