Elliott Ramps Up Pressure on BP as New Strategy Falls Short
Elliott Investment Management is ramping up pressure on BP Plc after its new strategy fell short of the activist investor’s expectations, people with knowledge of the matter said. Most Read from BloombergThe Trump Administration Takes Aim at Transportation ResearchShelters Await Billions in Federal Money for Homelessness ProvidersNYC’s Congestion Pricing Pulls In $48.
Chief executive tells the Financial Times there will be “tremendous demand” for oil and gas and expects majority of company's ...
Elliott Investment Management is ramping up pressure on BP Plc after its new strategy fell short of the activist investor’s ...
BP today unveiled a massive strategy U-turn with a new emphasis on oil and gas investment and a massive downgrade of its ...
BP said it would increase annual oil and gas spending to $10 billion and cut planned annual investment in energy transition businesses by more than $5 billion.
In addition to divesting $20 billion of assets, BP plans to slash investments in renewables and boost growth elsewhere.
BP Plc Chief Executive Officer Murray Auchincloss said he slept “like a baby” after unveiling the oil major’s turnaround program, despite a lukewarm reception from shareholders.Most Read from ...
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