Today, BP announced its Q4/2023 results with underlying profits of $2.99bn (better than the forecast of $2.76bn). The Company also announced a further buyback of $1.75bn ahead of its Q2 numbers.
Profit for the year is $13.83bn.
The new BP CEO Murray Auchinloss seems inclined to maintain the same strategy of his predecessor Bernard Looney, and support company’s investments on green energies.
About this, some shareholders have raised questions at a time when demand for oil and gas is rising. The Company plans to increase the dividends to shareholders to maintain its consensus.
However, it is common opinion that BP’s strategy is ambition, but it presents high risk due to the uncertain margins that green energy investments offer in this moment.