BP CEO Auchincloss Faces a Crucial Test in Delayed Strategy Update
- Much smaller US shale drillers have caught up London-based BP
- BP pushed back investor day after CEO’s medical procedure
Murray Auchincloss
Photographer: Aaron M. Sprecher/BloombergThis article is for subscribers only.
BP Plc’s Chief Executive Officer Murray Auchincloss faces a critical moment next month when he makes the delayed presentation of a new strategy to investors.
The sprawling energy producer has fallen so far behind its fellow oil majors that it’s now worth less than half as much as Shell Plc. It’s even being caught by companies that were once just a fraction of its value.