BP pledges ‘fundamental reset’ of strategy as profits sink

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BP has promised to “fundamentally reset” its strategy and improves its performance, the fighter oil Major has declined to decrease the profit in the final quarter of last year.

The group said on Tuesday that the underlying profit of $ 1.17bn for this period was reduced by about half compared to the previous quarter and it was significantly below the $ 2.99BN made in the fourth quarter of 2023.

Chief Executive Mare Auchincos Auchincos has called for a new strategy to determine a new strategy after several quarters of disappointment, concerns over the group’s aggressive push and concern over the price of shares left behind in the last one year.

Auchinclos promised to increase “cash flow and return” in a statement on Tuesday and said that he would unveil a new direction BP2 February February Investor Day.

The pressure on BP was intensified this week after the rise of Eliot Management in US worker investor Eliot Management Made a steak In the organization.

Although the size of Eliot’s partnership is unclear, the BP shareholder said that the holding of the group means the London-list oil major change is now inevitable.

This is a developing story