As BP looks to please shareholders with higher returns and stock valuations, the UK-based supermajor is suggesting that a previous goal to reduce its oil and gas production by 2030 is now flexible and would depend more on returns rather than on volumes. BP has to decide in the coming years whether to proceed with more than 30 planned projects across its businesses, new CEO Murray Auchincloss told Reuters this week.
The first-quarter results that the supermajor released earlier this week didn’t reassure investors much as BP missed earnings estimates, due to lower oil and gas prices and a prolonged refinery outage in the United States.
Crude Oil Natural Gas Production Output Climate Environment Shareholders Profit
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