BP’s chief executive wants to more than double the oil major’s market value within five years to $200bn, the level it achieved before the 2010 Deepwater Horizon disaster.
Murray Auchincloss told the Financial Times that BP would capitalise on “tremendous” demand for oil and gas after this week abandoning a plan to reinvent itself as a green energy company.
“At the end of the decade, it would be nice to be back to where we were before Macondo,” said Auchincloss, referring to the name of the oil well that blew out, causing one of the worst spills of all time and leaving BP with a $62.5bn clean-up bill.
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