BP appoints new chairman after energy strategy reset
BP on Monday named Albert Manifold as its new chairman, replacing Helge Lund, as the British energy giant undergoes a major strategy shift back to its fossil fuel business.
Manifold, who was chief executive of building materials group CRH for a decade, will join the board in September before succeeding Lund as chairman in October.
"His impressive track record of shareholder value creation at CRH demonstrates he is the ideal candidate to oversee BP's next chapter," said Amanda Blanc, a senior independent director who led the search for BP's new chairman.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
eNCA
2 days ago
- eNCA
UK, Australia back embattled submarine deal with US
Britain and Australia said Friday they will sign a 50-year commitment to their nuclear-powered submarine pact with the United States, seeking to bolster a deal that Washington has thrown into doubt. The two countries cast their pledge as a historic treaty but gave few details beyond saying it would help economic cooperation and "underpin" the existing, three-nation AUKUS pact. "It is a profoundly important treaty that we will sign tomorrow," Australian Defence Minister Richard Marles told reporters after talks in Sydney between the two countries' defence and foreign ministers. A US defence official last month revealed that a review of AUKUS was underway to ensure it "aligned with the President's America First agenda" and that the US defence industrial base was "meeting our needs". Under the 2021 AUKUS deal, Australia would acquire at least three Virginia-class submarines from the United States within 15 years, eventually manufacturing its own subs. The US Navy has 24 Virginia-class vessels but American shipyards are struggling to meet production targets set at two new boats each year. In the United States, critics question why Washington would sell nuclear-powered submarines to Australia without stocking its own military first. "A new government undertaking a review is the most natural thing in the world," Marles said of the decision by US President Donald Trump's administration. - 'Symbolism is important' - POOL/AFP | COLIN MURTY Australia had already contributed US$1 billion this year to help boost production and maintenance of submarines in the United States, he said. "We are really confident that the production rates will be raised in America." Under AUKUS, Britain will eventually develop a new class of nuclear-powered attack submarines, the SSN-AUKUS, to enter service from the late 2030s. Australia would also build the SSN-AUKUS, with delivery expected to its navy in the early 2040s. British Defence Secretary John Healey said London welcomed the US review. "It's an opportunity for the new administration to renew America's commitment to the deep AUKUS partnership that our three nations have," he said. In a government statement, Britain repeated previously released figures saying that the AUKUS submarine programme would lead to the creation of 21,000 UK jobs. It said the submarine programme was expected to be worth "up to" 20 billion pounds (US$27 billion) in British exports over the next 25 years. Analyst Tom Corben from the United States Studies Centre in Australia said the new treaty between Canberra and London was an important show of solidarity. "The symbolism is important given everything else that is happening," he said. Britain's defence and foreign ministers were visiting Australia as their country's Carrier Strike Group and 3,000 personnel took part in annual Talisman Sabre military exercises across Australia and Papua New Guinea.
Eyewitness News
4 days ago
- Eyewitness News
India's Modi flies to UK to sign trade deal with Starmer
LONDON - Prime Minister Keir Starmer welcomes his Indian counterpart Narendra Modi to Britain on Thursday where the pair will sign a recently announced UK-India trade deal. Modi will also meet King Charles III during his brief stay in Britain, his fourth visit since becoming India's leader in 2014. Starmer and Modi are also likely to discuss last month's Air India disaster in which 241 people died when a London-bound flight crashed after taking off from Ahmedabad in western India. The British leader is also facing calls to raise the case of a Scottish Sikh activist jailed in India seven years ago on terror charges. Starmer and Modi announced in May they had struck a free trade agreement that the British government says will eventually add £4.8 billion ($6.5 billion) a year to the UK economy. "Our landmark trade deal with India is a major win for Britain," Starmer said in a statement late Wednesday. Starmer's year-old government is struggling to fire up an economy weakened by years of stagnant growth and high inflation. The UK and India hope the accord will boost trade between the two countries by £25.5 billion, as well as bolstering the British economy and wages. Britain and India are the sixth and fifth largest global economies respectively, with a trade relationship worth around £41 billion and investment supporting more than 600,000 jobs across both countries. As he left India on Wednesday, Modi said the partnership had "achieved significant momentum in the last few years". "We will have the opportunity to further enhance our economic partnership, aimed at fostering prosperity, growth and jobs creation in both countries," he added. The accord will slash tariffs on imports of UK goods into India, including whisky, cosmetics and medical devices. In return, the UK will cut tariffs on clothes, footwear and food products including frozen prawns from India. AIR INDIA CRASH On June 12, some 169 Indian passengers and 52 British nationals were killed in the Air India crash, one of the deadliest plane disasters in terms of the number of British fatalities. A lawyer for 20 British families expects Starmer to raise claims that some of the remains of victims were wrongly identified. James Healy-Pratt told the Press Association that relatives of one victim found that the coffin contained "co-mingled" remains. A different family were told a coffin contained the body of someone else entirely, not their loved one, the agency reported on Wednesday. Another tricky topic of discussion could be that of blogger Jagtar Singh Johal, imprisoned in India since 2017 on accusations of being part of a terror plot against right-wing Hindu leaders. He has not been convicted of a crime and in March was cleared of one of the nine charges against him. His brother Gurpreet Singh Johal said in a statement the case "should be high on the agenda" when the two leaders meet. Starmer and Modi have met twice recently, at the G7 summit in Canada last month and at the G20 meeting in Brazil last year.
IOL News
6 days ago
- IOL News
BP appoints new chairman after energy strategy reset
Albert Manifold will be the new chairman of BP. BP on Monday named Albert Manifold as its new chairman, replacing Helge Lund, as the British energy giant undergoes a major strategy shift back to its fossil fuel business. Manifold, who was chief executive of building materials group CRH for a decade, will join the board in September before succeeding Lund as chairman in October. "His impressive track record of shareholder value creation at CRH demonstrates he is the ideal candidate to oversee BP's next chapter," said Amanda Blanc, a senior independent director who led the search for BP's new chairman.
