{"id":98333,"date":"2026-08-06T05:40:10","date_gmt":"2026-08-06T05:40:10","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/98333\/"},"modified":"2026-08-06T05:40:10","modified_gmt":"2026-08-06T05:40:10","slug":"bps-new-boss-has-a-message-for-britain-2","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/98333\/","title":{"rendered":"BP\u2019s new boss has a message for Britain"},"content":{"rendered":"

(Oil Price)<\/a> \u2013\u00a0In 2020, BP unveiled a \u201cmajor, necessary step in support of our purpose to reimagine energy for people and our planet.\u201d The new strategy \u2013 \u201cperforming while transforming\u201d \u2013 would see the firm \u201csignificantly scale-up our low carbon energy business\u201d as part of a commitment \u201cto become a net zero company by 2050 or sooner and help the world get to net zero.\u201d<\/p>\n

\"BP\u2019s<\/a><\/p>\n

Even the design of the\u00a0annual report<\/a>\u00a0aimed to reflect this, oozing cuddly vibes with doodles of wind farms and a scribbled \u201c#bpnetzero\u201d on page one. But times change.<\/p>\n

Six years and two chief executives later, the company is more frank:\u00a0corporate communications<\/a>\u00a0simply state that BP \u201cis a global integrated oil and gas company.\u201d Adding, for the avoidance of doubt: \u201cWe produce oil and gas, trade energy, and make, ship and sell energy products.\u201d The company\u2019s stated purpose is also now clear: \u201cto deliver energy to the world, today and tomorrow.\u201d<\/p>\n

In pursuit of that, CEO Meg O\u2019Neill is\u00a0overhauling the company<\/a>, conceding that \u201cour performance over the past few years has not met our own expectations, let alone those of our shareholders.\u201d\u00a0Questionable governance arrangements<\/a>\u00a0aside, she\u2019s on a roll. Last week the energy giant announced it was pulling out of the North Sea, citing unpredictable \u201cfiscal regime changes\u201d that undermine confidence and stability. Thanks to high taxes and regulation, the North Sea simply isn\u2019t competitive.<\/p>\n

BP CEO\u2019s message to the PM<\/p>\n

It\u2019s also ditching Archaea, four years after buying the US biogas business for $4bn. That investment came under former CEO Bernard Looney, mastermind of the pivot to clean energy from which O\u2019Neill is now moving away. She told the media yesterday that certain investments in green energy simply hadn\u2019t \u201cdelivered the returns that we expect\u201d. There\u2019s no sentimentality here: \u201cSome assets may have been important to BP in the past\u2026that does not necessarily mean they are the right assets for BP\u2019s future,\u201d she said.<\/p>\n

As O\u2019Neill works to transform BP, she also had a clear message for the Prime Minister, revealing that she told him his country currently gets 75 per cent of its energy from fossil fuels and that, therefore, \u201cthe first barrel of oil we consume and molecule of natural gas we need should be coming from the UK North Sea, where we generate jobs, we generate tax revenue, we generate all those additional positive impacts.\u201d Let\u2019s just hope that Andy Burnham proves to be as pragmatic as Meg O\u2019Neill.<\/p>\n

By\u00a0City AM<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"(Oil Price) \u2013\u00a0In 2020, BP unveiled a \u201cmajor, necessary step in support of our purpose to reimagine energy…\n","protected":false},"author":2,"featured_media":98334,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[21198],"tags":[67,6704,3545,41596,396,3766],"class_list":["post-98333","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bp","tag-bp","tag-bp-plc","tag-fossil-fuels","tag-low-carbon-business","tag-net-zero","tag-north-sea"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/117046963623532245","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/98333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=98333"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/98333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/98334"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=98333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=98333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=98333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}