As part of ongoing plans to cut costs and boost profits bp has announced plans cut about 4,700 staff, more than 5% of its total workforce.

In a statement, BP said: 
"We are strengthening our competitiveness and building in resilience as we lower our costs, drive performance improvement and play to our distinctive capabilities.

"Today we have told staff across BP that the proposed changes…are expected to impact around 4,700 BP roles - these account for much of the anticipated reduction this year. We are also reducing our contractor numbers by 3,000."

Murray Auchincloss has recently undergone a planned medical procedure from which he is recovering well. He will be back in the office by February. To ensure his full recuperation the capital markets event previously scheduled for 11 February in New York will now take place on 26 February in London. The fourth quarter and full year 2024 results date is unchanged and they are expected to be published at 0700 GMT on 11 February.

KeyFacts Energy: bp UK country profile