A new executive team has taken the reins at BP plc, but the strategy remains focused on providing energy solutions while remaining pragmatic because the world continues to need natural gas and oil, CEO Murray Auchincloss said.

Auchincloss discussed the London-based supermajor’s fourth quarter and full-year results during a conference call Tuesday. Formerly CFO, Auchincloss was tapped to take over late last year following Bernard Looney’s resignation. Newly appointed CFO Kate Thomson joined the CEO on the call.

Transitioning BP to become a full-service “integrated energy company” (IEC), versus its long-time moniker as a traditional “international oil company” is still on plan, Auchincloss told investors.

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