British oil major BP on Tuesday posted a sharp drop in fourth-quarter profit on weaker refining margins, announcing a $1.75 billion share buyback and a pledge to "fundamentally" reset its strategy.

BP posted underlying replacement cost profit, used as a proxy for net profit, of $2.3 billion for the July-September period. That beat analyst expectations of $2.1 billion, according to an ...

British oil major BP on Tuesday posted a sharp drop in fourth-quarter profit on weaker refining margins and pledged to "fundamentally" reset its strategy. Despite this, the embattled energy company ...