BP's new chief executive Murray Auchincloss to reveal his vision for oil giant

But it remains to be seen whether BP can deliver a performance which beats expectations on Tuesday when it reveals its results to shareholders.

Analysts expect that underlying replacement cost profit, the company’s preferred measure, will be 2.77 billion dollars (£2.19 billion)

A performance that beats expectations would be a boon for new boss Mr Auchincloss after he took over the role as BP’s chief executive last month.

He has been doing the job since September on an interim basis until the board could decide on a permanent replacement for Bernard Looney.

Mr Auchincloss has been seen by many as the continuity candidate.

He had been Mr Looney’s chief financial officer for most of the Irishman’s time in the top job.

Shortly after he took over, Mr Looney announced an ambition for BP to go “net zero” by the middle of this century.

Some investors have complained that this plan has depressed the share price of the FTSE 100-listed oil producer, and called for a change of tack.

“Analysts will then look to new chief executive Murray Auchincloss for an update on BP’s strategy, following the sudden departure of its architect, Mr Looney, poor share price performance relative to its oil major peers and also the arrival of an activist shareholder on its register,” said Russ Mould and Danni Hewson at AJ Bell.

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“In contrast to the activist campaigns faced by Shell and ExxonMobil, which pressed the case that they were moving too slowly in their transition toward renewables and away from hydrocarbons, Bluebell Capital has asserted that BP has tried to make the shift too quickly, given the globe’s ongoing reliance upon oil and gas.”

Speaking at the time of Mr Auchincloss’ appointment, BP chairman Helge Lund said: “Since September, BP’s board has undertaken a thorough and highly competitive process to identify BP’s next CEO, considering a number of high-calibre candidates in detail.

“The board is in complete agreement that Murray was the outstanding candidate and is the right leader for BP.

“Many already know Murray well, and few know BP better than he does.”

He added that Mr Auchincloss will lead the business through its “disciplined transformation to an integrated energy company”.

Speaking last month, Mr Auchincloss said: “It’s an honour to lead BP – this is a great company with great people.

“Our strategy – from international oil company to integrated energy company, or IOC to IEC – does not change. I’m convinced about the significant value we can create.”