Elliott builds BP stake of nearly 5%, pushes for big divestments, source says
Activist investor Elliott Management has built a near 5% stake in BP and is pushing the oil company to take radical action to transform its performance, including a big divestment programme, a source familiar with the matter told Reuters on Thursday.
BP has a laundry list of problems. The $93 billion UK oil major has a confused strategy, an overleveraged balance sheet, and ...
BP trades at around 10x this year's profits, while its American peer XOM trades at 14-15x this year's profits. See what makes ...
After a quarter century of lagging behind competitors, British oil giant BP has attracted the attention of big hedge fund ...
The oil and gas giant is expected to reverse course on renewable energy commitment due to decreased profits and a shifting ...
The energy giant was vague on details, but analysts say the changes is likely to include less spending on renewable sources ...
BP Chief Executive Murray Auchincloss promised a "reset" for the company, including dialing back climate commitments, on ...
BP ’s investments in low-carbon ventures added to the financial strain. The dismal results coincided with reports that ...
BP chief Murray Auchincloss says the restructuring will ‘be a new direction for BP’ - Amr Alfiky/Reuters. BP has halted all ...
BP Plc CEO Murray Auchincloss insisted that the company’s “fundamental reset” has been in the works for a year, while ...
Hedge fund’s BP stake worth £3.8bn as firm expected to ditch green promises - Activist investor Elliott Management is expected to push for BP to pivot back towards traditional oil and gas.
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