BP halts share buy-backs as annual profits slide
by Jillian Ambrose Energy correspondent from World news | The Guardian on (#73F2R)
Pressure mounts on oil and gas company as it aims for turnaround under new chief executive
BP has halted share buy-backs after reporting weaker annual profits as it prepares to continue a plan to resuscitate its fortunes under a new chief executive.
The company's underlying earnings fell to just below $7.5bn (5.5bn) for 2025, from almost $9bn for 2024, after global oil prices fell for a third consecutive year and at the steepest rate since the Covid pandemic.
Continue reading...