BP CEO says it will improve shareholder capital efficiency to promote restructuring
智通财经2026/10/05 12:21BP CEO Meg stated that it is necessary to improve the efficiency of shareholder capital usage. After six months in charge, she is working to reshape the oil giant. At the Energy Intelligence Forum in London on Monday, Meg said, "Decision-making is crucial. In the past, we did not manage shareholder capital carefully." As the first CEO hired from outside BP, Meg quickly pushed for a restructuring of the company after years of underperformance. Related measures include selling low-return assets, streamlining the company’s structure, and appointing a new chairman. In August, she mentioned that BP had not fully realized its potential and had "lost too much value." The Iran war has driven up oil and gas prices, giving Meg a certain boost to implement company restructuring. However, on Monday she declined to reveal when BP would resume stock buybacks, stating only that the company would continue to pay down debt and would not increase spending. Meg said, "In our industry, BP has had the highest leverage for more than a decade."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Diesel and gasoline temporarily sold out at some gas stations in Rhineland, Germany
According to Handelsblatt: Diesel and gasoline are temporarily sold out at some gas stations in the Rhineland region. The low water levels of the Rhine River have coincided with soaring demand, putting pressure on the supply chain.
SpaceX drops 1.4% in pre-market trading; reportedly seeking 40 billions in financing to purchase Nvidia chips
SpaceX (SPCX.US) shares fell 1.4% pre-market; according to the Financial Times, the company is seeking $40 billion in funding to purchase Nvidia chips.
After the rapid rise of the Swiss franc, traders may use the euro to replace its role as a funding currency.
(1) Last week, the Swiss franc saw a surge of several standard deviations, driven by an aggressive short squeeze triggered by French credit stress, which will force the market to reconsider using the Swiss franc as the preferred funding currency for carry trades. (2) This price movement serves as a reminder that Swiss franc crosses often face asymmetric risks, especially EUR/CHF, which typically rises slowly but can retreat sharply and rapidly during safe-haven flows, as was the case last week. (3) Since the demand for carry trades is unlikely to disappear, traders may turn to using the euro as an alternative funding currency to the Swiss franc, as the euro does not carry the same asymmetric risk. (4) Meanwhile, unfavorable terms of trade shocks in Europe continue to weigh on the euro, especially as winter approaches and inventories are at the lower end of their seasonal range, while energy costs remain elevated.
Germany will participate in further releases of International Energy Agency energy reserves
The German Ministry of Economic Affairs stated regarding energy reserves that Germany will participate in the further release of the reserve volume already determined by the International Energy Agency (IEA) in March. They are currently working on approving the release of energy reserves.
Crypto prices
More
