BP CEO says it will improve shareholder capital efficiency to promote restructuring

智通财经2026/10/05 12:21

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BP 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."

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