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Oil major trims renewables business and sells off underperforming assets

FTSE 100 group is unique in maintaining commitment to cut both oil and gas production

UK oil major’s shares climb 6% as new boss expands share buybacks and pledges to ‘simplify’ business

Departure follows resignation of Bernard Looney

Former chief financial officer to replace Bernard Looney, who abruptly resigned from the energy company last year

Oil major says balance sheet will benefit from upcoming reduction to pension surplus tax charge

Predictable shareholder payouts and high returns on investments would prevent discord from spreading

Despite third-quarter weakness, the group is well positioned to make the energy transition

UK group is not the first oil major to cut its refining footprint, and it won’t be the last

UK oil major has underperformed its rivals as oil prices have started to sink