BP reports profit drop as energy giant restrategizes to focus on fossil fuel output

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BP also announced that the head of sustainability strategy Giulia Chierchia will step down from her role in June and will not be replaced.

The company on Tuesday also reduced its quarterly share buyback to $750 million, at the lower end of expectations.

BP and other oil majors have been hit by a recent slump in crude prices on fears that US President Donald Trump's tariffs could cause a recession, impacting demand.

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Article Details

Author / Journalist: Alexandra Bacon, AFP

Category: EconomyBusiness

Markets: United States

Topics: Tariffs and trade Donald Trump BP U.K. Oil and gas Fortune 500 Europe LondonWires

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-29 @ 10:47:42 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 514 words

Reading Time: 3 minutes read

Sentences: 4 lines

Sentence Length: 129 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28284758

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Official Website: fortune.com

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