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BP Executive Presecution wants more than double the oil market value within five years of up to $ 200bn, the level it reaches the 2010 Deepwater forelated desaster.
Murray Auchincloss tells the financial periods that Bot Is “extraordinary” need for oil and gas after this week’s departure to a plan to change itself as a Green Energy Company.
“At the end of the decade, it was good to get back to where we were before Macondo, which refers to the oil name that was getting all the time and leaving BP with $ 62.5bn clean-up bill.
He said a day after BP, whose value today market is under £ 70bn ($ 89bn), cut each year spent 70 percent and pivoted back of primary oil and gas business.
The plan, receiving the acceptance of reasoning from the market, an acknowledgment of BP that energy transfer works slower than expected.
“The oil and gas demand will last for a long time,” says Auchincloss, when asked what BP looks after the amount it asks. ”
He said the growing electricity requirements of the DataCentres will make gas, especially, the fuel selected. “The challenge is how we disarrow these things as possible,” he said, adding that the BP has already taken carbon emissions.
while Auchincloss Throwing all targets for changes and want to move BP air and solar firearm balance, he says it’s “great” businesses yet.
The BP is criticized to act slowly to carry out the strategy that Auchincloss says he has no regrets in his first year as permanent chief executive. “Nothing comes to the above mind,” he said.
“You don’t let a strategy change until you change it,” he said, that he added that if he was a bold pivot before laying any fundamentals before, the market could not believe him.
BP is forced to improve its performance, especially after it arose early this month that the investor Elliott has A nearly 5 percent stake is built to the company and push for change.
A person who is familiar with Elliott said Thursday the company plans that have been unreasonable, which previously called for major divestments and cutting spending energy. Bloomberg first reported dissatisfaction with Hedge funds in the new way.
Auchincloss refused to comment if he had any fund fund in New York based on New York.
Auchincloss acknowledges that BP will suffer some financial disorder in the short term as it refills oil and gas projects after the years of repairs in its portfolio. But he said he would focus on the development of the American investors’ company and said most of the BP growth comes from the US and in the Middle East.
“We are more American than a terrible American companies,” he said.
“I focus on American investors and they show how attractive we are relative to their home opportunities in the states of BP passages in the coming weeks.
He said, However, the transfer of the US company list is “not on the agenda”.
Auchincloss also defends BP against criticism that is not very valuable, as a oil and gas company, than market peers of $ 481bn and $ 279bn.
“Our size is small, but the quality of our properties is higher,” he said, before changing the list of BP oils list.
“The entire world is a perfect class in the world and is jealous of other corporations. We have a very good-in-lawsome-to-sell. And we love it.