BP News Explorer

(Bloomberg) -- BP Plc is eliminating 4,700 positions internally, about 5% of its workforce, and more than 3,000 contractor jobs, Chief Executive Officer Murray Auchincloss told staff on Thursday, as the London-based energy giant seeks to reduce costs.Most Read from BloombergThese Homes Withstood the LA Fires. Architects Explain WhyChicago Agency Pitches $1.5 Billion Plan to Fix Transit WoesChurches, Cinemas — and Moon Artifacts — Top List of Endangered MonumentsAs E-Bikes Boom in NYC, Some Call

The job losses at the oil giant will affect more than 5% of its global workforce.

The energy giant’s chief executive, Murray Auchincloss, has taken a profit-oriented approach and said in an interview that the company’s “principle aim” was rewarding shareholders.

Hurricane Milton is already impacting the fuel supply in Florida with pumps near Tampa and Orlando running dry as people flee to safer areas.

Two proposals in Northern England, led by the energy giants BP and Eni, aim to establish an industry in burying emissions from industrial plants.

The UK will prioritise and increase investment in major projects in the Budget, Rachel Reeves says.

The BBC understands the government is bracing itself for a tough month as workers face losing their jobs

Investment will be cut and thousands of jobs put at risk if the windfall tax is raised, an industry body says.