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The Latest Breaking News from Murray Auchincloss

BP to slash spending on net zero ventures as it focuses on oil and gas again

British energy company BP has confirmed it is to slash spending on green ventures and up its oil and gas production

The Independent UK

BP slashes net-zero spending by nearly £4bn in renewed oil and gas focus

The fossil fuels giant said it would increase oil and gas investment by about 20% to £7.9 billion a year as part of a major strategy update.

Evening Standard

BP takes the axe to investment in green energy in "shocking" strategy U-turn

Rethink comes five years after BP set ambitious targets to cut production of oil and gas by 40% by 2030

Evening Standard

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BP expected to roll back green energy pledges to boost profit

The oil giant was criticised by environmental groups amid forecasts that it will roll back pledges made five years ago in a bid to boost profit.

Evening Standard

BP to slash renewable energy generation to pivot to fossil fuels

OIL and gas company BP is expected to ditch a target to ramp up renewable energy generation by 2030 in a bid to pivot back towards fossil fuels and…

The National (Scotland)

BP expected to scrap renewables target in shift back to fossil fuels

Goal of increasing renewable energy generation 20-fold to be ditched, shareholders to be told this week

The Guardian - UK

Hedge fund’s BP stake worth £3.8bn as firm expected to ditch green promises

Activist investor Elliott Management is expected to push for BP to pivot back towards traditional oil and gas.

Evening Standard

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Activist hedge fund reportedly amasses £3.8bn stake in BP

Elliott Management expected to demand strategy changes including pushing to abandon green energy pledge

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 Pledges Strategic 'Reset' As Profit Tumbles

Britain's BP on Tuesday said its annual net profit slumped 97 percent last year, as the struggling oil and gas giant pledged to "fundamentally reset" its strategy.

International Business Times

BP profits slump to four year low as activist shareholder circles

Disappointing results come weeks before major investor update on new strategy

Evening Standard

BP chief says it will ‘fundamentally reset’ amid threat of activist investor

Murray Auchincloss promises improvements after annual profits fell to $8.9bn last year from almost $14bn in 2023

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

An existential risk: can BP avoid becoming a prime takeover target?

CEO has ‘narrow window’ to come up with positive shift in strategy to win back investor confidence, say analysts

The Guardian - UK

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BP To Cut 5% Of Workforce In Cost-Cutting Drive

BP to reduce workforce by 5%, cutting 4,700 jobs and 3,000 contractor roles to enhance competitiveness and reduce costs.

The Independent UK

BP cutting 4,700 jobs worldwide as part of cost-saving drive

U.K.-based oil company is cutting 4,700 jobs worldwide and a further 3,000 contractor roles as part of a cost-saving drive

International Business Times

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.

The National (Scotland)

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…

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The Guardian - UK

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

Evening Standard

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.

The Independent UK

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

Evening Standard

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.

The Guardian - UK

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

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