BP steps up cost cutting as profits slide

BP加大减支力度,利润下滑

World Business Report

2026-02-11

9 分钟
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Oil giant BP is pulling back billions that had been earmarked for shareholders as it looks to steady its finances after a fall in profits. Leanna Byrne asks what it means for BP’s longer-term strategy in energy? Also, how unusual is it for a major artist to walk away from a powerful talent agency? And Spotify wraps its fourth quarter with good numbers.
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  • So BP's profits have fallen after last year's drop in oil prices.

  • The company says it's responding by cutting costs,

  • suspending its share buybacks, and reining in spending to strengthen its finances.

  • But shareholders are split.

  • Some say BP went too far into green energy.

  • Others say it's focused too much on oil, just as prices fell.

  • Earlier, I spoke to Nick Mazan,

  • who leads oil and gas strategy at ACC or a shareholder advocacy and research organization.

  • I think it's fair to look back at some of BP's investments into renewables and say those haven't been good investments for BP and its shareholders.