BP Plc is facing an uphill battle to calm investor jitters after its stock fell to a 25-year low only days after it staked its future on a grand plan for the energy transition.

CEO Bernard Looney and top managers made a series of presentations to shareholders last week to convince them the U.K. oil and gas major’s pivot—part of a broader goal to be a net-zero emissions company—would pay off.

But since then the company’s share price has steadily declined, closing at 232.4 pence on Sept. 24, the lowest level since October 1995, as concerns about a fresh wave of coronavirus infections outweighed any optimism among shareholders over the company’s new strategy.

Already have an account? Log In

Thanks for reading Hart Energy.

Subscribe now to get unmatched coverage of the oil and gas industry’s entire landscape.

Get Access