New boss Murray Auchincloss reverses move away from fossil fuels, which had weighed on company’s share price

The head of BP has imposed a hiring freeze and halted new offshore wind projects, in an apparent attempt to placate investors who are unhappy with the oil company’s green targets.

Murray Auchincloss, BP’s former finance chief, took up the role of CEO in January after the shock departure of his predecessor, Bernard Looney, with a promise to focus on delivering value for shareholders.