BP halts share buy-backs as annual profits slide

Pressure mounts on oil and gas company as it aims for turnaround under new chief executiveBusiness live – latest updatesBP has halted share buy-backs after reporting weaker annual profits as it prepares to continue a plan to resuscitate its fortunes under a new chief executive.The company’s underlying earnings fell to just below $7.5bn (£5.5bn) for 2025, from almost $9bn for 2024, after global oil prices fell for a third consecutive year and at the steepest rate since the Covid pandemic. Continue reading...