The clearing of the decks continues apace at BP. The final chief govt, Murray Auchincloss, acquired the heave-ho in December. Final month introduced information of hefty write-downs on the troublesome low-carbon vitality belongings in photo voltaic and biogas. Now comes an admission that the present debt-reduction measures aren’t sufficient to ease the pressure on an over-extended stability sheet. Share buy-backs are being suspended.
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