BP Plans Strategy Update as Balance Sheet Strengthens
By Adam Whittaker
BP said it would update its strategy in December, giving new Chief Executive Meg O'Neill her first opportunity to outline her vision for the British energy major to investors.
BP said Tuesday that it will host a strategy and outlook update in New York on Dec. 15. O'Neill has headed up BP since April this year and has so far made shoring up the balance sheet a priority. She has also worked to simplify the portfolio and the company's structure.
Higher oil and gas prices coupled with disposals have helped cut net debt, with BP saying Tuesday that it sees net debt at the end of the third quarter between $13.5 billion and $14.5 billion, down from $22.3 billion at the end of the second quarter. The company had been targeting a net debt of $14 billion to $18 billion by end 2027.
Write to Adam Whittaker at adam.whittaker@wsj.com
(END) Dow Jones Newswires
October 13, 2026 02:39 ET (06:39 GMT)
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