BP’s boss has pledged to “fundamentally reset” the firm’s strategy as annual profits slumped by more than a third and the oil giant faces pressure from an activist investor. The FTSE 100 firm reported a 36% drop in underlying replacement cost profits – the company’s preferred earnings measure – to 8.92 billion dollars (£7.22 billion) in 2024 from 13.84 billion dollars (£11.21 billion) in 2023. #BP
