BP to slash costs by $2bn
- Admin
- May 7, 2024
- 1 min read
BP plans to cut $2bn in costs by the end of 2026 due to falling profits, partly caused by lower gas prices and a refinery outage in the US. The strategy includes digital transformation and efficiency improvements, while maintaining aggressive share buybacks. CEO Murray Auchincloss emphasized a pragmatic approach to clean energy targets to enhance shareholder value.
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