BP

BP chief executive Bernard Looney posted on Instagram yesterday about his first day in the role.

But is social media an effective way for company bosses to communicate?

“It was a valiant effort. There were certainly elements giving people a behind the scenes glimpse they couldn’t get elsewhere, but there is a slight sense of a dad dancing at a wedding when you see these chief executives posting on social media” says Sara Tasker, an influencer and Instagram consultant.

“It’s a difficult one - if you can do it well, it’s a great investment of your time and energy but it often means compromising on some of the PR machine that chief executives like,” she says.

“People are looking for a bit of authenticity and a connection they can’t get elsewhere so you really need to share something above and beyond what you put on traditional communication channels.”

BP

British police have arrested nine people after climate change protesters temporarily shut down BP headquarters in London on new boss Bernard Looney's first day in office.

More than 100 Greenpeace activists attempted to place 500 solar panels in front of BP's office, blocking the building's entrances with oil barrels.

The people were "arrested for offences including aggravated trespass, highway obstruction and conspiracy to commit public nuisance and have been taken to police stations in central London", the Metropolitan Police said in a statement.

Looney, who was visiting staff in Germany on Wednesday, shares the "deep concerns" of the climate protesters, BP said.

He will set out his vision for BP's response to the low carbon energy transition in a speech next week.

BP said Looney "hopes that what he has to say then will give people a sense that we get it and are very serious about working to address the problem."

BP earlier announced it had raised its dividend and announced the completion of a $1.5bn share buyback programme on the last day in office for chief executive Bob Dudley.

The shareholder boosts came as the London-based company reported a 26% drop in fourth-quarter profit which beat forecasts and $2.7bn in charges.

Stuart Lamont, investment manager at Brewin Dolphin, said: "BP's results have come in slightly better than expected, but they are still a reflection of the challenging environment for oil and gas companies – the effect of which we also saw with Royal Dutch Shell’s update last week. Debt levels are a concern for now, remaining as they do above the 30% mark.

"However, there are some positives to be taken from the update including the progress of BP’s divestment programme, an increase in production, good reliability, and greater diversification."

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BP has boosted its dividend payout after a 26% drop in fourth-quarter profit on lower oil and gas prices which still beat forecasts.

On chief executive's Bob Dudley last day in office, London-based BP increased its dividend by 2.4% to 10.5 cents per share.

It reported $2.57bn in fourth-quarter underlying replacement cost profit, its definition of net income, exceeding forecasts of $2.1bn in a company-provided survey of analysts.

That was down from $3.5bn a year earlier but up from $2.3bn in the third quarter.

BP

An activist has called on new BP chairman Bernard Looney to take action on climate change.

Mr Looney is replacing Bob Dudley as chief executive of the British oil and gas company, and Mark van Baal, founder of activist group Follow This, told the Today programme: "We think he will make some bold and brave decisions and announcements.

"He has to, as investors really want BP to act on climate change - something bob Dudley always has refused.

"We organised shareholder support to set targets for all emissions. Bob Dudley said last year that they can’t take responsibility for emissions of their customers. He said he could decrease his own emissions but customers have to do their own thing."

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BP has announced that its chief financial officer (CFO), Brian Gilvary, is to retire.

Mr Gilvary, who will step down from BP's board on 30 June, has worked at the oil giant for 34 years, with more than eight years as CFO.

He will be succeeded by Murray Auchincloss, currently CFO of BP's Upstream segment.

BP chairman Helge Lund said: "We will miss Brian's financial stewardship and strategic insights. He is one of the architects of today's BP, key to its transformation into a safer, simpler and stronger company.

"On behalf of the board, I would like to thank Brian for all he has done for BP and look forward to welcoming Murray to the board."

BP

The FTSE 100 remains in positive territory - just - as we go into lunchtime. It's at 7,587.74, a rise of 12.4 points or 0.16%.

Primark-owner Associated British Foods is leading the pack - up by 3.1%.

The mid-cap FTSE 250 is also ahead at 21,823.65, that's a rise of 63.12 points or 0.29%.

Premier Oil has extended its gains following its acquisition of some North Sea oil assets, including BP's Andrew platform (see earlier post) and is now up by 16.81%.