DIRS.INFO The most relevant business & tech news

☆ BP trims down executive team, picks new head of its gas and low carbon energy business
▼ + stars: | 2024-04-18 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

A general view of the BP logo and petrol station forecourt sign on January 22, 2024 in Southend, United Kingdom. British oil major BP on Thursday trimmed its executive team down to 10 members and announced William Lin as the new head of the firm's oil and low carbon energy business. BP said it was simplifying its organizational structure to help "grow the value" of the business. "These changes will help us do just that, reducing complexity within bp, allowing our team to focus on delivering our priorities and growing the value of bp," he added. The energy major said the financial reporting structure of the firm remains unchanged and that it will continue to have three businesses: production and operations, gas and low carbon energy and customers and products — enabled by trading and shipping.

Persons: William Lin, Lin, Isabel Dotzenrath, Emeka Emembolu, Ann Russell, Murray Auchincloss, BP's Organizations: United Kingdom ., IEC, London Locations: Southend, United Kingdom, Leigh

☆ BP's EV charging arm cuts jobs, reduces global ambitions: Reuters
▼ + stars: | 2024-04-15 | by ( ) www.cnbc.com time to read: +2 min

EV charging, however, remains one of BP's key growth engines. The changes at BP Pulse are "a step towards ensuring that we can execute our goals with even greater precision and effectiveness". BP Pulse has also stepped away from several bets it made since launching its energy transition strategy under previous group CEO Bernard Looney in 2020. BP last May also shut down its home EV charging business. The company says it expects returns from its EV charging and convenience stores operations to exceed 15% and create $1.5 billion in earnings before interest, taxes, depreciation, and amortization by 2025.

Persons: Murray, Tesla, Bernard Looney, Auchincloss Organizations: BP, Reuters, EV Locations: United States, Britain, Germany, China

☆ A garland-wearing Mark Zuckerberg arrives for a glitzy Indian wedding celebration — and boy is he in full vacation mode
▼ + stars: | 2024-03-01 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Mark Zuckerberg and his wife Priscilla are attending the lavish Ambani pre-wedding party in India. The Meta CEO appears to be in full vacation mode after being pictured with a floral garland. The event for Anant Ambani and Radhika Merchant is due to feature a performance by Rihanna. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . He appears to be in full vacation mode after flying in with his wife for the Ambani family's extravagant three-day affair.

Persons: Mark Zuckerberg, Priscilla, Ambani, Anant Ambani, Radhika Merchant, Rihanna, —, Mukesh Ambani, Anant, He's, Viren Merchant, Isha Ambani, Anand Piramal, Priyanka Chopra, Nick Jonas, Hillary Clinton, Arianna Huffington, Mukesh, Nita, Bill Gates, Ivanka Trump, Zuckerberg, he'd, Larry Fink, Murray Auchincloss, Sundar Pichai, Jay Y, Lee, Rihanna hasn't, Abu Organizations: Service, Encore Healthcare, The, Samsung Electronics, Reuters, India Today, Prix Locations: India, Gujarat, The Times

London-based BP reported its underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, down from $3.3 billion in the previous quarter. It brought in $13.8 billion for all of last year, a huge drop from the $27.7 billion it earned in 2022, when Russia's war in Ukraine sent oil and natural gas prices surging. Energy prices have since fallen as a weak global economy holds back demand for fossil fuels to power cars, planes, factories and more. Despite the drop in annual earnings, BP kept its dividend steady and said it would buy back $1.75 billion in shares as well as commit to $3.5 billion in additional share buybacks for first half of this year. It's a pressure that the energy industry is facing, with companies like BP and Shell pledging to reach net zero emissions by 2050.

Persons: Murray Auchincloss, ”, Auchincloss, Bernard Looney, Looney, Joseph Evans, ” Richard Hunter Organizations: —, BP, Shell, Exxon Mobil, Institute for Public Policy Research, “ Locations: Ukraine, London, Spain, Portugal

☆ Oil major BP accelerates pace of share buybacks even as full-year profit slides over 50%
▼ + stars: | 2024-02-06 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Analysts had anticipated net profit of $13.9 billion for full-year 2023, according to an LSEG-compiled consensus. BP posted fourth-quarter net profit of nearly $3 billion, beating analyst expectations of $2.6 billion. BP increased the pace of its share repurchases, announcing intentions to execute a $1.75 billion share buyback prior to reporting first-quarter results. The company said it was committed to announcing a $3.5 billion share buyback for the first half of the year. British rival Shell on Thursday reported stronger-than-anticipated full-year profits, announcing a 4% increase to its dividend and a fresh $3.5 billion share buyback program.

Persons: Murray Auchincloss Organizations: BP, Analysts, Shell Locations: London

☆ BP to Increase Oil Output, New Chief Says
▼ + stars: | 2024-02-06 | by ( Stanley Reed | ) www.nytimes.com time to read: 1 min

BP’s new chief executive, Murray Auchincloss, promised a flexible approach to the shift away from fossil fuels as the oil giant reported a $3 billion profit in its latest quarter on Tuesday. BP has a plan to become what Mr. Auchincloss called an integrated energy company. But in the meantime, “we see growing demand for energy right now across the globe,” he said. “It is not slowing down.”BP is “going to invest in today’s energy system, to help make sure that prices don’t get out of control,” Mr. Auchincloss said. “So that’s investing into oil and gas,” he added, while also putting money into alternative energy sources like biofuels and hydrogen.

Persons: BP’s, Murray Auchincloss, Auchincloss, “, Mr Organizations: BP Locations: London

☆ One activist investor is taking on BP, urging the oil giant to scale back green pledges
▼ + stars: | 2024-01-30 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

And on that front, we are not asking BP to renege on its strategy, but to adapt its strategy to the reality." Auchincloss has since been appointed as permanent CEO of the British oil and gas major. In response to the publication of the letter, a spokesperson for BP said the company "welcomes constructive engagement" with its shareholders. We continue to make significant progress, remain focused on delivery, and are confident the strategy will grow the value of bp and deliver sustainable long-term value for shareholders," BP said. Bivona declined to disclose Bluebell's stake in BP, saying that it was below a reporting threshold.

Persons: Giuseppe Bivona, Bivona, CNBC's, Bivone, Marco Taricco, Helge Lund, Murray Auchincloss, Auchincloss Organizations: Capital Partners, BP, Financial, Danone Locations: Bluebell, London

Auchincloss, a 53-year-old Canadian who was BP’s chief financial officer for more than three years, took on the top job in September after Looney's surprise resignation. Auchincloss joined BP when it took over oil firm Amoco in 1998. “Since September, BP’s board has undertaken a thorough and highly competitive process to identify BP’s next CEO, considering a number of high-caliber candidates in detail,” BP chairman Helge Lund said. He was denied 32.4 million-pound ($41 million) worth of salary, pension, bonus payments and shares, after BP said he had committed “serious misconduct” by misleading the board. BP has had four different bosses over the past 15 years.

Persons: Murray Auchincloss, Bernard Looney, Looney's, Auchincloss, BP’s, ”, Helge Lund, Lund, ” Auchincloss, Charlie Kronick, ” Kronick, ” Looney, Bob Dudley Organizations: BP, Amoco, RBC Capital Markets, Greenpeace Locations: “, Gulf of Mexico

☆ BP appoints Murray Auchincloss as permanent CEO
▼ + stars: | 2024-01-17 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

BP CEO Murray Auchincloss speaks at the panel dicscussion during the Abu Dhabi International Petroleum Exhibition and Conference held at ADNEC Exhibition Center on October 2, 2023. LONDON — Oil and gas major BP appointed Murray Auchincloss as permanent CEO, the company said Wednesday. The energy company said it carried out a search process to appoint the new company boss since September. "It's an honour to lead BP — this is a great company with great people. Our strategy — from international oil company to integrated energy company, or IOC to IEC — does not change.

Persons: Murray Auchincloss, Bernard Looney, Auchincloss, Murray, Helge Lund, I'm Organizations: Abu, Abu Dhabi International Petroleum Exhibition, ADNEC, BP, Amoco Canada, IEC Locations: Abu Dhabi

Zelensky and Trump loom over DavosTwo people are having an outsize impact at the World Economic Forum, and one of them isn’t even there. One is Volodymyr Zelensky, Ukraine’s president, who put on a full-court press of business and global leaders at the forum in Davos, Switzerland. Zelensky isn’t the only leader at Davos worried about Trump. The Ukrainian leader has sought to shore up global business support. And the annual wine tasting hosted by Anthony Scaramucci, the financier and former Trump official, well, ran out of wine.

Persons: Volodymyr Zelensky, Donald Trump, Zelensky, Vladimir Putin, Andrew, Trump, Putin, “, ” Zelensky, Republican Party ”, DealBook, thumped, JPMorgan Chase, Steve Schwarzman, Blackstone, Ray Dalio, David Rubenstein, Carlyle, Michael Dell, John Kerry, Biden’s, Anthony Scaramucci, Christine Lagarde, Christopher Waller, Nelson Peltz’s, James Gorman, Morgan Stanley, Mary Barra, General Motors —, Bob Iger, Disney’s, Murray Auchincloss, Bernard Looney, Auchincloss, Yi Fuxian Organizations: Trump, Economic, Ukraine, Republican Party, Republican, JPMorgan, Congress Center, Dell, European Central Bank, Fed, Disney, General, BP, University of Wisconsin – Locations: Davos, Switzerland, Europe, Ukraine, American, Iowa, Bridgewater, China, Beijing, Russia, Britain, U.S, Asia, University of Wisconsin – Madison

The energy sector is under pressure, but some stocks within the space are poised for an upside breakout. These names are cheap, are expected to rise more than 10% to their average price targets and are trading below where they have been historically. Upside to average price target of more than 10%. The U.S-listed shares, which are trading 5% below their 200-day moving average, have a forward price-to-earnings ratio of 8.6. It's set to surge 26% to its average price target and is trading at a forward P/E of just 7.6.

Persons: Baker Hughes, It's, Bank of America's Christopher Kuplent, Kuplent, underperformed, Murray Auchincloss, Auchincloss, Bernard Looney Organizations: Energy, APA, CNBC, Equinor ASA, Bank of America's, BP Locations: China, Norwegian, U.S, 2Q23

☆ These Oil Giants Don’t Seem Tempted by Merger Mania
▼ + stars: | 2023-11-02 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Shell released solid third-quarter results on Thursday. Photo: Jason Alden/Bloomberg NewsOil bosses in Europe are intent on closing the valuation gap with their American rivals. This doesn’t automatically mean they will follow Exxon Mobil and Chevron down the megamerger path. “M&A is not really on our minds, if I’m honest,” BP interim boss Murray Auchincloss said on the company’s earnings call this week when asked for his reaction to Exxon Mobil and Chevron’s recent multibillion-dollar spending spree.

Persons: Shell, Jason Alden, Murray Auchincloss Organizations: Bloomberg News Oil, Exxon Mobil, Chevron Locations: Europe

☆ 12 House Democrats break with Biden and vote for GOP-led Israel aid package that cuts IRS funding
▼ + stars: | 2023-11-02 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

While support for Israel is traditionally bipartisan, Democrats were largely aghast over the bill. AdvertisementAdvertisementSome key Democrats announced before the vote that they would oppose the bill while stressing that they still wanted to support Israel. "I strongly support Israel. House Speaker Mike Johnson defied Biden and Senate Democrats' aim to combine aid for Israel, Ukraine, Taiwan, and border security into a massive $105 billion bill. Here are the 12 Democrats who voted for the GOP-led Israel aid bill:

Persons: —, Marjorie Taylor Greene, Thomas Massie of, Chuck Schumer, Joe Biden, Jake Auchincloss, Lois Frankel, Frankel, Dan Goldman, Goldman, Mike Johnson, Biden Organizations: Republicans, Service, dodgers, Israel, Senate, American, Management, Massachusetts Democrat, Florida Democrat, Democrats, Office, GOP Locations: Israel, Marjorie Taylor Greene of Georgia, Thomas Massie of Kentucky, Massachusetts, Florida, Europe, New York, Ukraine, Taiwan

☆ Oil major BP misses estimates for third quarter as profits plummet
▼ + stars: | 2023-10-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

LONDON — Oil major BP on Tuesday reported a steep year-on-year fall in profits, missing analyst estimates. The British energy giant logged underlying replacement cost profit, used as a proxy for net profit, of $3.293 billion in the third quarter. Analysts had expected profit to come in at $4.059 billion in the third quarter, according to a collection of estimates by LSEG. Quarterly growth came from a rise in oil and gas production and higher realized refining margins, along with a "very strong oil trading result," BP said. The year-on-year profits of BP and other energy majors plunged in the second quarter, following weaker fossil fuel prices that have since risen sharply.

Persons: Borkhataria, Bernard Looney, Murray Auchincloss, Auchincloss, Dave Lawler, Looney Organizations: Oil, BP, LSEG, RBC Capital Markets, Organization of, Petroleum Locations: Warmister, Wiltshire, England, BP's London, U.S

"BP reported weak numbers this morning...However, notably, BP has reported exceptional gas trading results on several occasions in the last couple of years, including last quarter," said RBC analyst Biraj Borkhataria. In the downstream, customers & products reported $2.1 bln vs consensus $2.4 bln, despite being supported by very strong oil trading results, suggesting weaker refining margin capture in the third quarter." That was up from the $2.6 billion profit the company reported in the prior three months due to higher oil and gas production, strong refining margins, lower refinery maintenance and "a very strong oil trading result", but natural gas marketing and trading were weak. BP expects capital expenditure of $16 billion this year, the lower end of its indicated range of $16-$18 billion. Rivals Chevron (CVX.N) and Exxon Mobil (XOM.N) last week posted sharp year-on-year drops in third quarter profit as energy prices cooled.

Persons: Norway's, Biraj Borkhataria, Murray Auchincloss, Bernard Looney, Ron Bousso, Louise Heavens, Jason Neely Organizations: windfarm, BP, Reuters Graphics Reuters, Rivals Chevron, Exxon Mobil, Thomson, & $ Locations: U.S, British, New York

The logo of British multinational oil and gas company BP is displayed at their booth during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. London-based BP has held talks in recent weeks with several companies about tying up operations in the Haynesville shale gas basin, the three sources said. BP is also considering creating joint ventures in the Eagle Ford basin, but the talks do not include its positions in the oil-rich Permian basin for now, two of the sources added. The rapid growth in U.S. shale oil and gas operations over the past 15 years has upended global markets, turning the U.S. into a major exporter of energy. By pursuing joint ventures, BP can achieve growth ambitions while avoiding spending billions on acquisitions.

Persons: Chris Helgren, Hess, Murray Auchincloss, Bernard Looney, Ron Bousso, David French, David Gregorio Our Organizations: BP, REUTERS, Reuters, Exxon Mobil, Chevron, Natural Resources, Eagle Ford, Lewis Energy, BHP, Interim, Thomson Locations: Vancouver , British Columbia, Canada, London, Eagle, U.S, Texas, Denver, New York

☆ Europe’s oil majors are stuck as M&A party-poopers
▼ + stars: | 2023-10-26 | by ( Yawen Chen | ) www.reuters.com time to read: +4 min

Oil pump jack is seen in front of displayed U.S. dollar banknote and decreasing stock graph in this illustration taken, October 8, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Oct 26 (Reuters Breakingviews) - Back in June the boss of $220 billion UK oil major Shell (SHEL.L), Wael Sawan, told investors mergers and acquisitions were not his priority. The decision of $430 billion Exxon Mobil (XOM.N) and $295 billion Chevron (CVX.N) to acquire $60 billion Pioneer Natural Resources (PXD.N) and $53 billion Hess (HES.N) respectively ought to change the game. But it would remain a stretch for either to ape their U.S. peers and buy a big oil group. Hess investors will receive 1.025 shares of Chevron for each share held, worth $171 per share based on the closing price on Oct. 20.

Persons: Dado Ruvic, Wael Sawan, Hess, Murray Auchincloss, Patrick Pouyanné, ’, Shell, Neste, Warren Buffett’s, Pouyanné, George Hay, Streisand Neto Organizations: REUTERS, Reuters, Exxon Mobil, Chevron, Natural Resources, Exxon, Shell, Occidental Petroleum, Exxon Mobil’s, Thomson Locations: Finnish, Denmark, U.S, Occidental

☆ Biden’s Response to Israeli War Meets Centrist Praise and Liberal Anger
▼ + stars: | 2023-10-19 | by ( Reid J. Epstein | More About Reid J. Epstein | ) www.nytimes.com time to read: +4 min

He pleaded with the Israelis not to overreact, as he said the United States did after the terrorist attacks on Sept. 11, 2001. Mr. Biden’s speech comes as his political coalition has begun to fray over the Israeli conflict. “I am grateful to have @POTUS thoughtful leadership in this moment,” Representative Emanuel Cleaver of Missouri wrote on social media. “Joe Biden flew into a war zone to stand with Israel,” Mr. Auchincloss said late Wednesday. “Trump wouldn’t even visit a cemetery of American war dead.” (Mr. Trump, in 2018, canceled a planned trip to a French cemetery, and his aides cited the rainy weather.)

Persons: Biden, Israel —, “, Emanuel Cleaver, Missouri, Steny Hoyer, Biden “, Richard Haass, Jake Auchincloss, Donald J, Trump, “ Joe Biden, ” Mr, Auchincloss, “ Trump, ”, Cori Bush, André Carson, Pope Francis, Rashida Tlaib, Jerry Nadler, Debbie Wasserman Schultz, Ilhan Omar, Omar, Dilawar Syed, Wadea, ’, Josh Paul, Biden administration’s Organizations: Democratic, Progressives, Democrats, Maryland, Foreign Relations, Biden, Liberal Democrats, Gaza, Capitol, Florida, Small Business Administration, Department Locations: Israel, Ukraine, Tel Aviv, United States, Gaza, America, Massachusetts, Missouri, André Carson of Indiana, Michigan, York, Minnesota, Chicago

Logo of British Petrol BP is seen at a petrol station in Pienkow, Poland, June 8, 2022. REUTERS/Kacper Pempel/File Photo Acquire Licensing RightsCompanies Bp Plc FollowLONDON, Oct 10 (Reuters) - BP (BP.L) said on Tuesday it remained committed to its financial and carbon reduction ambitions, as interim Chief Executive Officer Murray Auchincloss hosted an investor day in Denver. "BP's strategy, financial frame and net zero ambition are unchanged," the energy group said in a statement. "BP remains focused on delivering its strategy safely, with disciplined delivery, quarter-on-quarter, to meet 2025 targets and 2030 aims." The company aims to achieve zero net carbon emissions by 2050 and to invest billions in renewable and low-carbon power.

Persons: Kacper, Murray Auchincloss, Bernard Looney, Ron Bousso, Tomasz Janowski, Susan Fenton, Emelia Organizations: British, REUTERS, Rights, BP, Reuters, Thomson Locations: Pienkow, Poland, Denver

☆ Former BP boss Bob Dudley says Looney’s shock exit ‘came out of nowhere’
▼ + stars: | 2023-10-03 | by ( Sam Meredith | ) www.cnbc.com time to read: +4 min

Arun Sankar | Afp | Getty ImagesFormer BP CEO Bob Dudley on Tuesday said that Bernard Looney's abrupt resignation last month came as a shock and denied any prior knowledge of the latter's past personal relationships with colleagues. Looney succeeded Dudley, who stood down as BP CEO in 2020. He informed the company that he was not "fully transparent in his previous disclosures" about relationships with colleagues before becoming CEO, BP said. "Things at BP are OK. We move forward as you would expect, despite the change that happens," interim BP CEO Murray Auchincloss said Monday during a CNBC-moderated ADIPEC panel session. Dudley — who now chairs the Oil and Gas Climate Initiative, an organization backed by BP, Saudi Aramco, Exxon Mobil and other Big Oil firms — echoed Auchincloss' view.

Persons: Bernard Looney, Arun Sankar, Bob Dudley, Bernard Looney's, Dudley, Looney, Murray Auchincloss, Auchincloss, It's, Dudley — Organizations: Afp, Getty, BP, Financial Times, CNBC, Abu Dhabi International Progressive Energy Congress, BP Plc, Abu, Abu Dhabi International Petroleum Exhibition, United, Bloomberg, Climate Initiative, Exxon Mobil, Big Oil Locations: New Delhi, Abu Dhabi, United Arab Emirates, Saudi Aramco

☆ BP names Kate Thomson as interim CFO in post-Looney reshuffle
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: +1 min

The International Energy Agency recently reported that 2021 saw energy-related carbon dioxide emissions rise to their highest level in history. BP on Tuesday appointed Kate Thomson as interim chief financial officer to take the place of Murray Auchincloss who became interim CEO last week. The reshuffle follows the abrupt departure of CEO Bernard Looney last week after he did not fully disclose past relationships with colleagues. Thomson, who joined BP nearly 20 years ago, previously headed the finances of the energy giant's oil and gas production and operations division. Auchincloss, 52, worked closely with Looney in devising BP's energy transition strategy and has advocated a focus on high-return assets to finance the transition, according to two company sources.

Persons: Kate Thomson, Murray Auchincloss, Bernard Looney, Thomson, Auchincloss, Looney Organizations: International Energy Agency, BP, Aker BP Locations: London

☆ BP succession fail puts spotlight on its board
▼ + stars: | 2023-09-14 | by ( George Hay | ) www.reuters.com time to read: +4 min

But the surprise departure of former leader Bernard Looney the previous day reflects poorly on the company’s board. Looney’s resignation, after failing to fully disclose details of past relationships with colleagues, appears to have caught BP by surprise. That’s embarrassing for the board, whose responsibilities include planning for succession in case something happens to the CEO. Auchincloss told staff in a brief town hall meeting on Sept. 13 that the company’s aims were unchanged. And our focus remains on performance – quarter by quarter,” Auchincloss, who was previously chief financial officer, told staff, according to a company spokesperson.

Persons: Dado Ruvic, Murray Auchincloss, Helge Lund, Bernard Looney, Debra Crew, Ivan Menezes, Looney, John Browne’s, Browne, Tony Hayward, Hayward, Lund, Bernard Looney’s, Auchincloss, hasn’t, ” Auchincloss, Peter Thal Larsen, Oliver Taslic Organizations: REUTERS, Reuters, Interim, Diageo, BP, Irish, Thomson Locations: British

BP scaled back its energy transition strategy earlier this year but still stands out among rivals as the only oil major with plans to cut oil and gas output by 2030 by 25%. Auchincloss told staff in a brief town hall meeting on Wednesday that the company's aims were unchanged. As part of his energy transition strategy he had committed to BP reaching net-zero emissions by 2050. BP's strategy came under renewed scrutiny after rival Shell (SHEL.L) slowed down its energy transition strategy in June. "(The BP board) have enough flexibility within the current strategy to focus more on cash flow," a second source close to the company said.

Persons: Chris Helgren, Looney, Murray Auchincloss, Bernard Looney's, Auchincloss, hasn't, Helge Lund, Murray, Ron Bousso, Dmitry Zhdannikov, Jane Merriman, Mark Potter, Elaine Hardcastle Organizations: BP, REUTERS, Board, Investors, Canadian, Reuters, Shell, Thomson Locations: Vancouver , British Columbia, Canada

BP’s (BP.L) chief executive resigned late on Tuesday after the UK oil giant’s board found he had not been sufficiently transparent about past relationships with company colleagues. While his exit appears unrelated to strategy, it puts Chair Helge Lund and the rest of BP’s board on the spot over the $112 billion group’s future direction. On the face of it, BP’s strategy should be unaffected by Looney’s missteps. While Looney subsequently revised the reduction in hydrocarbons to 25%, BP remained more committed to the energy transition than European rival Shell (SHEL.L) or U.S. giants Exxon Mobil (XOM.N) and Chevron (CVX.N). Reuters Graphics Reuters GraphicsLund and board colleagues may be minded to do the same.

Persons: Bernard Looney, Helge Lund, Looney’s missteps, Looney, Wael Sawan, Norway’s Equinor, Murray Auchincloss, Peter Thal Larsen, Sharon Lam Organizations: Reuters, BP, Shell, Exxon Mobil, Chevron, Exxon, New Shell, Reuters Graphics, Graphics Lund, International Energy Agency, Thomson Locations: Ukraine, Germany, U.S

LONDON (AP) — Global energy giant BP, one of Britain’s biggest and most recognizable companies, is scurrying to find a new chief executive after CEO Bernard Looney became the latest corporate leader to step down amid questions about his personal conduct. BP conducted an internal review last year after receiving allegations about personal relationships between Looney and other company employees. “The company has strong values and the board expects everyone at the company to behave in accordance with those values,” BP said. Looney had spent his entire career at BP after joining the company as an engineer in 1991. Soon after becoming CEO, Looney set a goal of achieving net zero emissions by 2050 — in line with goals then adopted by the U.K. government.

Persons: Bernard Looney, Looney, Murray Auchincloss, ”, “, Bob Dudley, Harvey Weinstein, Jess Staley, Jeffrey Epstein, Jeff Shell Organizations: —, BP, London Stock Exchange, Greenpeace, Barclays, . Locations: Ukraine

Search resuls for: "Auchincloss"

25 mentions found