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Evening Standard
Evening Standard
Business
Holly Williams

BP to outline strategy update in December as it reveals steep drop in debts

British Petroleum Oil
The FTSE 100 firm said it would outline a new strategy plan on December 15 in New York (Peter Byrne/PA) - (PA Wire)

BP has revealed its new chief executive Meg O’Neill will lay out a fresh strategy vision for the oil giant in December as it said a boost from soaring crude and gas prices would help slash its debt pile.

The FTSE 100 firm has seen net debt already reduce to its 2027 target after reporting it was set to drop to between 13.5 billion US dollars (£10.2 billion) and 14.5 billion dollars (£11 billion) by the end of September from 22.3 billion dollars (£16.8 billion) at the end of June.

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