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The move comes after BP's share price slumped more than 10% in 2024. BP has struggled in recent years as it attempts to balance its core businesses, like oil and gas, with renewable energy.
Price Action: BP shares are down 2.93% at $30.14 premarket at the last check Tuesday. Read Next: BP Stock Drops As Crude Oil Prices Fall Ahead Of Q3 Earnings Report
BP shares rose 5.4% by 1326 GMT to their highest since early 2020. ... BP also wants to increase its focus on renewable natural gas having last year acquired U.S. producer Archaea Energy for $4.1 ...
BP's net income fell to $8.9bn (£7.2bn) in 2024, down from $13.8bn the previous year. It said lower oil and gas prices, plus lower profits from its refineries, had dented how much money it had made.
BP announced that it was setting up a new unit to oversee management of the oil spill and its aftermath, to be headed by former TNK-BP chief executive Robert Dudley, [67] who a month later was named CEO of BP. [66] On 1 October, BP's London Stock Exchange price reached 439.75 pence, the highest point since 28 May. [68]
BP p.l.c. (formerly The British Petroleum Company p.l.c. and BP Amoco p.l.c.; stylised in all lowercase) is a British multinational oil and gas company headquartered in London, England. It is one of the oil and gas " supermajors " and one of the world's largest companies measured by revenues and profits. [ 3 ]
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