BP’s Upstream Chief Lays Out the Mechanics of Turnaround Plan

BP Plc has put an oil and gas revival at the heart of its turnaround plan, and upstream chief Gordon Birrell is leading the push to make the business a more reliable driver of profits.

The London-based oil and gas giant is pursuing a strategy reset to reverse years of poor performance. Several months into the endeavor, hurdles to the plan are proliferating. Investors remain skeptical of the new direction, BP’s share price is still lagging peers, and extreme volatility in oil and gas prices is buffeting the entire industry.