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.
Thinking about taking a position on BP’s share price? Open a demo or live account with IG
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.’
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
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. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
