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Adnoc decided move was not right fit but it is latest sign of foreign buyers circling UK firmsAbu Dhabi’s state-owned oil company reportedly recently explored a multibillion-pound bid for BP in a sign that depressed share values in London are making even the biggest British businesses takeover targets.Abu Dhabi National Oil Company (Adnoc) considered options including purchasing BP or acquiring a large stake before...

Oil and gas company criticised by campaigners as it plans more share buybacks to return cash to investorsBusiness live – latest coverageProfits at the energy company BP halved last year to nearly $14bn (£11bn), but were better than expected after weaker oil and gas market prices caused revenues to slump across the industry.BP said it would return more cash to investors with $3.5bn of...

Former finance chief to replace Bernard Looney, who departed unexpectedly last yearBusiness live – latest updatesThe oil company BP has appointed its former chief financial officer, Murray Auchincloss, as its new chief executive after the shock departure of Bernard Looney last year.BP said Auchincloss, who has acted as interim chief executive since September, would take up the permanent role with immediate effect. He succeeds...