LONDON, Feb 6 (Reuters) - BP will simplify its business and become more pragmatic in its investment decisions, CEO Murray Auchincloss told Reuters as he seeks to allay investor concerns over its energy transition strategy.

"The past four years have been about origination and now it's time to simplify" as BP moves into a construction phase, he told Reuters in an interview after the company reported stronger than expected fourth-quarter results.

"We will pragmatically adapt to what's happening with demand in society," he said, adding that BP will go for the "highest return and highest value projects."

(Reporting by Ron Bousso, Editing by Louise Heavens)