BP plc Closed Now

BP plc is a British multinational integrated oil and gas company headquartered in London, with origins dating back to the founding of the Anglo-Persian Oil Company in 1909 Investopedia+1datanyze.com+1. Operating across exploration and production, refining, trading, petrochemicals, retail fuel stations, and emerging energy services, BP is considered one of the world’s supermajors in the energy sector.

For fiscal year 2024, BP reported annual revenue of approximately US $194.63 billion, down about 8.6% year-over-year from FY2023 (~US $213 billion) datanyze.commacrotrends.net+1cincodias.elpais.com+1. This placed BP in the lower top 25 of the global revenue ranking, roughly aligned at #22 globally in the Fortune Global 500 listings visualcapitalist.comgrowthnavigate.com.

BP’s workforce stood at ~100,500 employees as of December 2024, reflecting a nearly 14.5% increase over the previous year as the company expanded operations and managed restructuring efforts under its new leadership macrotrends.net+1StockAnalysis+1. The company also noted strategic workforce reductions, including cutting around 4,700 roles (~5% of headcount) across operations to reduce costs and improve efficiency reuters.com+1nypost.com+1.

Under CEO Murray Auchincloss (appointed January 2024), BP initiated a “fundamental reset” of its strategy, signaling a shift toward profitability and capital discipline. The company has cut back on low-carbon energy investments—though still investing in carbon capture, hydrogen, and biofuels—and refocused on core upstream oil and gas operations amid pressure from activist investor Elliott Management Wikipedia+3theguardian.com+3nypost.com+3.

Financial highlights from Q4 2024 showed underlying replacement-cost profit of US $8.9 billion—a steep drop from the prior year (~$15 billion)—and net profit attributable to shareholders of only US $0.4 billion, highlighting volatility in refining margins and energy trading markets bp global.

Looking ahead, BP plans to enhance performance through cost reductions, rationalizing non-core assets, investing selectively in high-return fossil fuel opportunities, and streamlining operations to deliver sustainable returns—while balancing climate risks and operational realities theguardian.comnypost.com.