The energy giant was vague on details, but analysts say the changes is likely to include less spending on renewable sources and a bigger investment in oil and natural gas production.

By Arunima Kumar (Reuters) -BP CEO Murray Auchincloss pledged on Tuesday to fundamentally reset the company's strategy as it reported a 35% fall in annual profits, missing analysts' expectations. The drop in profit to $8.

The chief executive officer says he’s met with shareholders constantly this past year, and the market will like oil major’s new direction.