Drop in net profit
48%
Net profit amount
$1.4 billion
Planned asset sales
$20 billion
Drop in BP's shares
20%
Key Facts
- BP reported a 48% drop in net profit to $1.4 billion due to weaker gas trading and refining results.
- CEO Murray Auchincloss has announced plans to sell $20 billion of assets through to 2027 to improve profitability.
- Giulia Chierchia, strategy and sustainability chief, will step down on June 1 as BP ends its plan to cut hydrocarbon production.
- Since the strategy revamp in February, BP's shares have dropped 20%, more than rivals Shell and Exxon.