Tuesday, February 10, 2026 at 10:49 AM
BP has suspended its share buyback program and incurred $4 billion in charges related to its renewables and biogas assets, as it prepares for a new CEO and aims to reduce debt amidst weak oil prices.
A shareholder resolution filed by U.K. and European pension funds, along with activist investor Australasian Centre for Corporate Responsibility, said the reset strategy and renewed focus on oil and gas doesn’t address the root cause of BP’s underperformance.
Adjusted earnings fell to $3.26 billion from $5.43 billion in the preceding quarter.
The energy major havled its quarterly share buyback, citing an uncertain price environment.
SoftBank-backed ride-hailing firm Grab is hoping to begin its newly announced $500 million share buyback soon, and keep delivering returns to shareholders, the CFO said in an interview.
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