(Alliance News) - Murray Auchincloss, the interim chief executive officer of BP PLC, on Tuesday said the oil major's "net zero ambition" is unchanged since he took over the helm.
Presenting at an US investor forum in Denver, Colorado, Auchincloss, who stepped in after the sudden departure of Bernard Looney last month, said BP's "strategy, financial frame and net zero ambition are unchanged".
"BP remains focused on delivering its strategy safely, with disciplined delivery, quarter-on-quarter, to meet 2025 targets and 2030 aims," he said.
Looney, who left under a cloud over undisclosed personal relationships with colleagues, had led BP's net zero drive, so his departure raised questions over whether the London-based oil company would continue to pursue them.
Auchincloss told the Denver event that BP aims to increase by 2030 the earnings before interest, tax, depreciation and amortisation that it makes from "resilient hydrocarbons" by USD2 billion to between USD41 billion and USD44 billion. This would be out of group Ebitda of USD53 billion to USD58 billion.
Group Ebitda in 2022 was USD60.75 billion, up from USD37.32 billion in 2021.
BP also aims for USD2 billion in Ebitda from its biogas business by 2030, forming part of its "transition growth engines".
BP shares were up 1.0% at 530.50 pence on Wednesday morning in London.
By Tom Waite, Alliance News editor
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
BP (BP.)
