Matthew Lofting's questions to BP PLC (BP) leadership • Q4 2024
Question
Matthew Lofting of JPMorgan Chase & Co. requested a breakdown of the $5 billion structural cost reduction between divestments and underlying efficiencies, and asked whether reconsolidating Rosneft shares is a feasible scenario.
Answer
CFO Katherine Thomson declined to provide a specific breakdown of the cost reduction figure but confirmed it includes portfolio impacts. Regarding Rosneft, CEO Murray Auchincloss stated that the principal focus remains on divesting the stake, given international sanctions.