BP CEO was awarded no bonus pay from oil giant's financial performance

Dow Jones

06 Mar

MW BP CEO was awarded no bonus pay from oil giant's financial performance

By Steve Goldstein

BP missed earnings threshold for bonus payments by 7%

BP's under-fire chief executive was awarded no bonus from the company's financial performance last year as his overall pay declined, the company said Thursday in its annual report.

CEO Murray Auchinloss was paid a total of GBP5.36 million ($6.9 million) in 2024, down from GBP7.74 million even as his salary rose to GBP1.45 million from GBP1 million. While Auchinloss met most of bonus thresholds for BP's safety and sustainability, he received nothing for the 70% of his bonus that is determined by financial performance and operations.

BP said its modified free cash flow of $12.5 billion didn't hit the target of $14.7 billion, and the adjusted EBITDA of $38 billion didn't hit the target of $40.9 billion. Refining availability also was below bonus thresholds due to a power outage at BP's Whiting plant.

Activist investor Elliott reportedly was unhappy with last week's corporate strategy reset and wants BP to abandon all renewable energy projects, according to The Times.

BP shares $(BP)$ (UK:BP) slipped 0.2% in London trade on Thursday. The stock has dropped 24% from the levels of last April.

-Steve Goldstein

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

March 06, 2025 05:34 ET (10:34 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2517306931"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2517306931\",edition:\"fundamental\",,,undefined,":{"share":"https://ttm.financial/m/news/2517306931?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-03-06 18:34","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2517306931","market":"nz","top_or_hot":-1,"title":"BP CEO was awarded no bonus pay from oil giant's financial performance","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW BP CEO was awarded no bonus pay from oil giant's financial performance\n</p>\n<p>\n  By Steve Goldstein \n</p>\n<p>\n     BP missed earnings threshold for bonus payments by 7% \n</p>\n<p>\n     BP's under-fire chief executive was awarded no bonus from the company's financial performance last year as his overall pay declined, the company said Thursday in its annual report. \n</p>\n<p>\n     CEO Murray Auchinloss was paid a total of GBP5.36 million ($6.9 million) in 2024, down from GBP7.74 million even as his salary rose to GBP1.45 million from GBP1 million. While Auchinloss met most of bonus thresholds for BP's safety and sustainability, he received nothing for the 70% of his bonus that is determined by financial performance and operations. \n</p>\n<p>\n     BP said its modified free cash flow of $12.5 billion didn't hit the target of $14.7 billion, and the adjusted EBITDA of $38 billion didn't hit the target of $40.9 billion. Refining availability also was below bonus thresholds due to a power outage at BP's Whiting plant. \n</p>\n<p>\n     Activist investor Elliott reportedly was unhappy with last week's corporate strategy reset and wants BP to abandon all renewable energy projects, according to The Times. \n</p>\n<p>\n     BP shares <a href=\"https://laohu8.com/S/BP\">$(BP)$</a> (UK:BP) slipped 0.2% in London trade on Thursday. The stock has dropped 24% from the levels of last April. \n</p>\n<p>\n     -Steve Goldstein \n</p>\n<p>\n     This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 06, 2025 05:34 ET (10:34 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BP CEO was awarded no bonus pay from oil giant's financial performance</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBP CEO was awarded no bonus pay from oil giant's financial performance\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-03-06 18:34</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\nMW BP CEO was awarded no bonus pay from oil giant's financial performance\n</p>\n<p>\n  By Steve Goldstein \n</p>\n<p>\n     BP missed earnings threshold for bonus payments by 7% \n</p>\n<p>\n     BP's under-fire chief executive was awarded no bonus from the company's financial performance last year as his overall pay declined, the company said Thursday in its annual report. \n</p>\n<p>\n     CEO Murray Auchinloss was paid a total of GBP5.36 million ($6.9 million) in 2024, down from GBP7.74 million even as his salary rose to GBP1.45 million from GBP1 million. While Auchinloss met most of bonus thresholds for BP's safety and sustainability, he received nothing for the 70% of his bonus that is determined by financial performance and operations. \n</p>\n<p>\n     BP said its modified free cash flow of $12.5 billion didn't hit the target of $14.7 billion, and the adjusted EBITDA of $38 billion didn't hit the target of $40.9 billion. Refining availability also was below bonus thresholds due to a power outage at BP's Whiting plant. \n</p>\n<p>\n     Activist investor Elliott reportedly was unhappy with last week's corporate strategy reset and wants BP to abandon all renewable energy projects, according to The Times. \n</p>\n<p>\n     BP shares <a href=\"https://laohu8.com/S/BP\">$(BP)$</a> (UK:BP) slipped 0.2% in London trade on Thursday. The stock has dropped 24% from the levels of last April. \n</p>\n<p>\n     -Steve Goldstein \n</p>\n<p>\n     This content was created by MarketWatch, which is operated by Dow Jones &amp; Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 06, 2025 05:34 ET (10:34 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1162221912.USD","symbol_name":"FRANKLIN INCOME \"A\" (USD) ACC","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2517306931","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2517306931","pubTimestamp":1741257240,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"BP missed earnings threshold for bonus payments by 7%. BP's under-fire chief executive was awarded no bonus from the company's financial performance last year as his overall pay declined, the company said Thursday in its annual report.CEO Murray Auchinloss was paid a total of GBP5.36 million  in 2024, down from GBP7.74 million even as his salary rose to GBP1.45 million from GBP1 million. While Auchinloss met most of bonus thresholds for BP's safety and sustainability, he received nothing for the 70% of his bonus that is determined by financial performance and operations.BP said its modified free cash flow of $12.5 billion didn't hit the target of $14.7 billion, and the adjusted EBITDA of $38 billion didn't hit the target of $40.9 billion. Refining availability also was below bonus thresholds due to a power outage at BP's Whiting plant.Activist investor Elliott reportedly was unhappy with last week's corporate strategy reset and wants BP to abandon all renewable energy projects, accordi","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","BK4585":"ETF&股票定投概念","BK4201":"综合性石油与天然气企业","BK4588":"碎股","LU0072461881.USD":"BGF US BASIC VALUE \"A2\" ACC","BP":"英国石油","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","LU1829250122.USD":"高盛欧洲核心股票组合Acc","LU0162691827.USD":"BGF US BASIC VALUE \"A4\" INC"},"translate_title":"英国石油公司首席执行官没有因石油巨头的财务业绩而获得奖金","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BP":1},"content_text":"MW BP CEO was awarded no bonus pay from oil giant's financial performance\n\n\n  By Steve Goldstein \n\n\n     BP missed earnings threshold for bonus payments by 7% \n\n\n     BP's under-fire chief executive was awarded no bonus from the company's financial performance last year as his overall pay declined, the company said Thursday in its annual report. \n\n\n     CEO Murray Auchinloss was paid a total of GBP5.36 million ($6.9 million) in 2024, down from GBP7.74 million even as his salary rose to GBP1.45 million from GBP1 million. While Auchinloss met most of bonus thresholds for BP's safety and sustainability, he received nothing for the 70% of his bonus that is determined by financial performance and operations. \n\n\n     BP said its modified free cash flow of $12.5 billion didn't hit the target of $14.7 billion, and the adjusted EBITDA of $38 billion didn't hit the target of $40.9 billion. Refining availability also was below bonus thresholds due to a power outage at BP's Whiting plant. \n\n\n     Activist investor Elliott reportedly was unhappy with last week's corporate strategy reset and wants BP to abandon all renewable energy projects, according to The Times. \n\n\n     BP shares $(BP)$ (UK:BP) slipped 0.2% in London trade on Thursday. The stock has dropped 24% from the levels of last April. \n\n\n     -Steve Goldstein \n\n\n     This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 06, 2025 05:34 ET (10:34 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}