BP Plc Chief Executive Officer Murray Auchincloss’ total compensation dropped to £5.36 million ($6.91 million) in 2024, about 30% less than the previous year, after the energy giant’s profits disappointed.

Even the oil giants that attempted to switch away from fossil fuels are going back to oil and gas. The chief executive of BP Plc oozed confidence as he strode out onto a Houston stage in 2023 to tell an audience of fellow oil executives that he no longer ran an oil company.

BP Plc (BP) garnered retail attention on Thursday after Bloomberg reported that activist investor Elliott Investment Management was ramping up pressure on the company after its new strategy fell short of expectations.

BP Plc finalized an agreement with the government of Iraq to redevelop the giant Kirkuk oil fields, a deal that signals a return to the company’s Middle Eastern routes and should help to bolster production from the OPEC member.

Javier Blas is a Bloomberg Opinion columnist covering energy ... For the last five years, BP Plc has put ideology ahead of profitability. This week, its board of directors has a final chance ...

BP Plc’s crucial strategy reset, which included a pivot back to oil and promises to sell assets, appeared to win few plaudits from investors as shares erased their recent gains. Most Read from BloombergThe Trump Administration Takes Aim at Transportation ResearchNYC’s Congestion Pricing Pulls In $48.

BP Plc’s “fundamental reset” on Wednesday is the most highly anticipated strategy shift for an oil major in several years. Most Read from BloombergTrump Targets $128 Billion California High-Speed Rail ProjectTrump Asserts Power Over NYC,

BP Plc is set to announce a potential sale of its lubricants business and abandon plans to cut oil and gas output as it embarks on a shift away from renewable energy amid pressure from activist investor Elliott Investment Management,