Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner. Facebook Messenger An icon of the facebook messenger app logo. Facebook An icon of a facebook f logo. Facebook Messenger An icon of the Twitter app logo. LinkedIn An icon of the LinkedIn logo. WhatsApp Messenger An icon of the Whatsapp messenger app logo. Email An icon of an mail envelope. Copy link A decentered black square over a white square.

BP investors will look to see signs of new boss’s strategy

BP’s new boss Murray Auchincloss was appointed last month (Peter Byrne/PA)
BP’s new boss Murray Auchincloss was appointed last month (Peter Byrne/PA)

New BP chief executive Murray Auchincloss will have his first outing next week since being appointed to the role permanently, and hopes will be high that he can replicate a strong set of results from Shell.

The company’s shares ticked up on Tuesday after Shell beat expectations after making 7.2 billion dollars (£5.8 billion) in underlying earnings in the last three months of 2023.

But it remains to be seen whether BP can deliver a similar expectations beat on Tuesday when it reveals its performance for the period to shareholders.

Rishi Sunak visit to Washington DC
Bernard Looney left the top job in September last year (Niall Carson/PA)

Analysts expect that underlying replacement cost profit, the company’s preferred measure, will be 2.77 billion dollars (£2.19 billion)

A beat would be a boon for new boss Mr Auchincloss after he took over the role as BP’s chief executive last month.

He has been doing the job since September on an interim basis until the board could decide on a permanent replacement for Bernard Looney who left after past relationships with colleagues were brought to light.

Mr Auchincloss has been seen by many as the continuity candidate, he had been Mr Looney’s chief financial officer for most of the Irishman’s time in the top job.

Investors will now be looking to the Canadian to see whether they should expect more of the same from his time in charge, or whether changes are incoming.

Shortly after he took over, Mr Looney announced an ambition for BP to go “net zero” by the middle of this century.

Some investors have complained that this plan has depressed the share price of the FTSE 100-listed oil producer, and called for a change of tack.

“Analysts will then look to new chief executive Murray Auchincloss for an update on BP’s strategy, following the sudden departure of its architect, Mr Looney, poor share price performance relative to its oil major peers and also the arrival of an activist shareholder on its register,” said Russ Mould and Danni Hewson at AJ Bell.

“In contrast to the activist campaigns faced by Shell and ExxonMobil, which pressed the case that they were moving too slowly in their transition toward renewables and away from hydrocarbons, Bluebell Capital has asserted that BP has tried to make the shift too quickly, given the globe’s ongoing reliance upon oil and gas.”