BP doubles-down on plan to switch to renewable energy whilst hiking investor returns

BP, the British oil and gas giant, has accelerated its multibillion-dollar share buyback programme as its new chief seeks to woo investors while sticking to the company’s clean-energy strategy.

Announcing fourth-quarter results on Tuesday with profits that exceeded market estimates, the London-based energy giant said it will repurchase $1.75 billion of shares each quarter in the first half of the year, compared with $1.5 billion in the prior three months.

BP follows a strong set ...