BP plc’s long-term vision remains focused on transitioning to net-zero emissions, but the value of the natural gas and oil portfolio is key for near-term success, interim chief Murray Auchincloss said Tuesday.

Auchincloss, formerly the longtime CFO, took the reins in September following the resignation of Bernard Looney. During a conference call to discuss third quarter performance, Auchincloss gave no ground about whether BP should temper its clean energy goals and instead prowl for acquisitions to boost fossil fuel production, like U.S.-based peers ExxonMobil and Chevron Corp. 

“Our strategy – transforming to an integrated energy company – is unchanged,” he said, reiterating Looney’s long-term vision. The London-based major’s growth is churning toward low-carbon...