Where Next For BP Following CEO Bernard Looney’s Shock Resignation?

Shares in BP saw falls of over 1% either side of the Atlantic, before mounting a partial recovery following the shock resignation of Chief Executive Officer Bernard Looney over his failure to fully disclose details of “past relationships” with colleagues.

During early trading in London on Wednesday (September 13, 2023) at 08:07 BST, the company’s shares (LON: BP) were down 1.1% or 5p to 514.7p. That’s after overnight falls in New York (NYSE: BP) where shares ended trading down 1.3% or $0.51 at $38.10. However, recent buoyant oil prices ensured the dip was somewhat short-lived with London prices recovering to trade around 518p, still down 0.75% at 09:40 BST.