- Reuters
BP softens tone on 2030 oil output cut to reassure investors
BP softened the language on its pledge to cut its 2030 oil and gas output in an effort to reassure investors over its energy transition strategy and narrow a gaping value gap with rivals. CEO Murray Auchincloss has in recent months pivoted the London-based firm's strategy to focus heavily on returns. BP's shares today lag rivals Shell, TotalEnergies, Exxon Mobil and Chevron, based on a number of key metrics, reflecting concerns BP is not investing in the most profitable segments of its business, primarily oil and gas.
- Zacks
BP Misses Q1 Earnings Estimates, Expects 2024 Production Hike
Lower realizations of commodity prices hurt BP's earnings in Q1.
- Bloomberg
BP May Do More Deals Since Low-Carbon Energy Is in ‘Doldrums’
(Bloomberg) -- With valuations of low-carbon energy down significantly from the highs of recent years, now may be a good time to invest in the sector.Most Read from BloombergIsrael Says a Cease-Fire Plan Backed by Hamas Falls ShortTrump Judge Indefinitely Postpones Documents Case TrialApple Revamps iPads With AI-Focused Pro Model, Bigger AirEinhorn Says Markets Are ‘Broken.’ Here’s What Data ShowsThat was the message from the chief executive officer of British oil major BP Plc after the company
