BP's New Chairman Calls for Urgency in Push to Simplify the Business

Dow Jones

10/02

By Adam Whittaker

BP's new chairman backed its strategic direction but said the business must act with urgency, signalling further asset sales as it attempts to shore up its balance sheet while boosting valuations for shareholders.

In a message to staff, Albert Manifold said the oil major needs to carefully look at its portfolio and suggested further asset sales will be needed to simplify the business.

Manifold said it was clear the company's change in direction is the right approach but called for faster delivery as it battles lower profitability and high levels of debt.

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

October 02, 2025 02:55 ET (06:55 GMT)

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