BP boss vows to 'reset' strategy after annual profits slump

NAMPA / DPA

2025-02-11

London (PA Media/dpa) - BP's boss has pledged to "fundamentally reset" the firm's strategy as annual profits slumped by more than a third and the oil giant faces pressure from an activist investor. The FTSE 100 firm reported a 36% drop in underlying replacement cost profits - the company's preferred earnings measure - to $8.92 billion in 2024 from $13.84 billion in 2023. Fourth quarter earnings fell by more than expected, down 61% year-on-year to......

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