Pressure: BP chief exec Murray Auchincloss is planning a ‘reset’ at a postponed capital markets day for big battalion investors on February 26.
Hawkish Bank of England rate-setter Catherine Mann’s switch to voting for a half-a-percentage cut in bank rate last week, to 4.25 per cent, reflects her belief that consumer demand is on the ropes amid the worsening jobs market.
Far from doubling down on green investment, Auchincloss is planning a ‘reset’ at a postponed capital markets day for big battalion investors on February 26.
The cut-off of Russian energy supplies directly to the West and demand for security of power supplies has provided a new lease of life for oil and gas.
In the latest financial year overall profits came in at £7.2billion, leading the green lobby to complain that it is still spending seven times more on oil than on the ‘low carbon’ agenda.
