BP
CEO Murray Auchincloss on Tuesday leaned into the growth potential of the company’s recent oil and gas discoveries, as the struggling energy major battles takeover questions amid a major turnaround.
“Inside the upstream, we’ve had tremendous performance, along with record operating efficiency [and] along with starting up five new major projects,” BP’s Auchincloss told CNBC’s “Squawk Box Europe” on Tuesday, just after the release of the company’s second-quarter results.
“We’ve had tremendous exploration success, 10 commercial exploration discoveries this year and yesterday we announced our most exciting, the Bumerangue discovery in Brazil,” Auchincloss said.
The London-listed company on Monday announced its largest oil and gas discovery in 25 years off the coast of Brazil, reflecting a potentially significant boost as it continues to double down on hydrocarbons.
