BP share price edges higher after naming Bernard Looney as next CEO
The oil and gas major announced Bob Dudley’s successor on Friday, with the head of upstream Bernard Looney taking the helm after the company’s full-year results in February 2020.
BP has named head of upstream Bernard Looney its next CEO on Friday. He will take the helm after Bob Dudley retires next year, with the hand over set for February 2020 when the oil and gas major unveils its full-year results.
Following the announcement, BP saw its share price edge higher, climbing 1.9% as of 14:20 GMT on Friday to 494p.
Looney to lead BP’s energy transition
Looney successfully led BP’s oil and gas production back in 2016 at a time when the industry was still reeling from the collapse in oil prices two years prior.
When he takes over as CEO next year, Looney will need to navigate the company through its energy transition, with BP’s chairman Helge Lund believing he has all the right qualities to get the business through this transformational era.
‘He has deep experience in the energy sector, has risen through the ranks of BP, and has consistently delivered strong safety, operational and financial performance,’ Lund said.
‘He is an authentic, progressive leader, with a passion for purpose and people and a clear sense of what BP must do to thrive through the energy transition.’
This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get commission from just 0.08% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets