BP’s new boss Murray Auchincloss set out plans to win over shareholders on Tuesday as he pledged to turn the oil major into a “higher value company” even as he sticks with his predecessor’s strategy of investing in green energy.
Presenting his first set of results since replacing Bernard Looney as chief executive on a permanent basis last month, he said BP would expand its share buyback scheme as the group reported its second biggest annual profit in more than a decade.
Shares in BP climbed 6 per cent to 480.80p by lunchtime, making it the best performer on the FTSE 100 index.