BP appoints new finance chief as Looney prepares to take over
BP’s (BP.L) finance chief Brian Gilvary is to step down in June after eight years in the role and will be replaced by a close ally of Bernard Looney who takes over as chief executive next month, APA reports citing Reuters.
Murray Auchincloss, currently finance head of BP’s upstream division, will become BP’s chief financial officer on July 1, the company said on Tuesday.
Gilvary has been credited with overseeing BP’s financial recovery following the 2010 deadly Gulf of Mexico oil spill which has cost the company more than $65 billion in fines, indemnities and clean up costs.
The London-based company saw its profits recover sharply in recent years, allowing it to remove the scrip dividend last year, an austerity measure on shareholder payouts.
However, in October, Gilvary appeared to backtrack on a previous hint that the company would boost its dividend payouts, angering investors.
"Gilvary’s departure may be associated with a more significant change in the company’s strategy including its financial strategy as the running of BP moves to a new top team,” stockbroker Panmure Gordon said in a note.
Panmure Gordon said Gilvary’s departure may also be associated with “problematic guidance over dividend”, a view which BP later rejected as “not true”.
Positive balance of trade turnover of Azerbaijan with EU countries sharply increases
Negative balance of trade turnover between Azerbaijan and Russia decreases by 7%
Negative balance of trade turnover of Azerbaijan with CIS countries decreases by nearly 3 times
Negative balance of trade turnover of Georgia with Azerbaijan decreases by 51%
ADB may allocate technical assistance of USD 5.8 mln. for Azerbaijan in 2020-2022
Minister: “There is no ground for any economic anxiety in regard with coronavirus”
Aramco to win unconditional EU clearance for $69 billion SABIC deal
Erdoğan, Putin reiterate commitment to all agreements on Syria's Idlib
Azerbaijani President meets with Mayor of Rome - PHOTO
Putin discusses prospects for relations with Belarus with Russian Security Council
Tokyo 2020 Olympics President says no plan to wear mask
Airlines warn of first global traffic drop since 2009 on virus
Pompeo says US-Taliban deal signing expected on 29 February
Kremlin: Russia coordinates steps on coronavirus with China through diplomatic channels
Sooronbay Jeenbekov congratulates Azerbaijani President
Official seeing-off ceremony was held for President Ilham Aliyev in Rome
Technology Minister: "First Turkish satellite navigation station opens in Antarctica"
Six coronavirus cases discovered in north Italy, hundreds to be tested
Buta-Airways aircraft, urgently landed in Ankara, sent off to Alanya
Iran says WHO sends equipment to test COVID-19
Putin holds emergency meeting with permanent members of Russian Security Council
Kremlin: Putin, Erdogan to hold phone talks on evening of February 21
First case of coronavirus confirmed in Lebanon
Toyota plans partial output resumption at all four China plants
Rome hosted Azerbaijan-Italy business forum
First lady Mehriban Aliyeva viewed Quirinale Palace in Rome - UPDATED
President Ilham Aliyev had working dinner with heads of Italian largest companies - UPDATED
Member of Turkish delegation to OSCE PA: “The status-quo regarding Nagorno Garabagh is unacceptable”
Ukrainian PM: "Gas price could be three to four times higher in Ukraine"
Head of Romanian delegation to OSCE PA: “Status-quo is not sustainable”
SCO Secretary General congratulates President Ilham Aliyev
IATA: Asian airlines could lose $27.8 billion revenue from coronavirus
Turkish Ambassador: "Several documents expected to be signed during Erdogan's visit to Azerbaijan"
Turkish Defense Minister arrived at Syrian border
Ambassador: "Turkish President will visit Azerbaijan on February 25"
Israel confirms first coronavirus case
No date set for next Normandy Four summit yet, says Kremlin
Three new coronavirus cases discovered in northern Italy
Azerbaijan's CEC reviews appeals and complaints
Chinese coronavirus patient reinfected 10 days after leaving hospital
Director of the OSCE Conflict Prevention Centre: "The co-chairs continue their active mediation efforts"
Armed person having committed grave crime in Georgia and hiding in Baku neutralized - PHOTO
Phone call held among Turkish, French, German Presidents
Number of people died from coronavirus reaches 4 in Iran
China postpones Boao Forum for Asia amid coronavirus outbreak
O2 Arena evacuated in London
US oil reserves reach 443 mln.barrels
Measures to be taken against coronavirus in Baku Metro disclosed
Azerbaijan increased volume of import from China by 30% in January
Kyrgyzstan stops issuing visas to Chinese nationals
Verkhovna Rada of Ukraine refuses discussion of draft law on so-called “Armenian genocide”
Azerbaijan's State Committee gives recommendations to organizers of pilgrimage to religious sites in Iran due to coronavirus outbreak
President Ilham Aliyev meets with Chairman of the Council of Ministers of Italy Giuseppe Conte - UPDATED
Azerbaijani, Italian presidents made press statements - UPDATED
About 40 meaningful amendments expected to be included in Russian Constitution
China will fully vanquish novel coronavirus by late March, Chinese Ambassador says
14 years pass since establishment of the Ministry of Emergency Situations: They always come to your aid in any difficult moments - PHOTOSESSION - VIDEO
First Vice-President Mehriban Aliyeva attended opening ceremony of rebuilt Azerbaijan pavilion at Exhibition of Achievements of National Economy in Moscow - UPDATED
Open Doors Day and the military oath-taking ceremony were held on the occasion of the State Flag Day
An exhibition that also presents President Ilham Aliyev's photo opened in Moscow
Azerbaijani President and first lady inaugurated Koroglu Transport Exchange Center of Baku Transport Agency - UPDATED
Azerbaijani MES extinguishes the fire at "Sadarak" Shopping Centre in Baku - PHOTO - VIDEO - UPDATED-2
Head of China’s Wuhan hospital dies of coronavirus
Huawei says no impact to 5G supply from coronavirus
4.2-magnitude earthquake hits Eastern Turkey
Russia suspends entry of Chinese nationals starting February 20