BP’s under-fire chief executive was awarded no bonus from the company’s financial performance last year as his overall pay declined, the company said Thursday in its annual report.

Green critics of BP's new strategy claim it will lead to stranded assets. it won't. BP's problem is not having enough oil and gas assets to meet future demand.

When you click on “Accept all”, you consent to ads on this site being customized to a personal profile we or our advertising partners may have about you. Choose “Customize or Reject all” if you want to manage your settings in more detail. You can change your settings at any time via the link in the footer of each page.

BP's emissions under its operational control and the use of its products rose to 33.6 million metric tons and 322 million metric tons of carbon dioxide equivalent respectively in 2024, it said in its annual report on Thursday.

The BP board is braced for a string of hardline demands from Elliott Management, the hedge fund that has taken a stake in the UK stalwart.

By the end of 2025 against the 2019 baseline, bp’s interim target is a 20% reduction in Scope 1 and 2 operational emissions—direct emissions from owned or controlled sources and indirect emissions from the generation of purchased energy. Its current outlook for the end of 2030 is a reduction of around 45% against the baseline.

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.

A gas leak has been detected at a well of the BP-operated Greater Tortue Ahmeyim gas project offshore Senegal and Mauritania, the British company and Mauritania's environment ministry said on Wednesday.

British energy company BP has confirmed it is to slash spending on green ventures and up its oil and gas production.