Oil giant BP promises a “fundamental reset.” What will that look like?
The oil and gas giant is expected to reverse course on renewable energy commitment due to decreased profits and a shifting political climate.
BP Vows ‘Fundamental Reset’ in Strategy as Profit Plunges
The energy giant was vague on details, but analysts say the changes is likely to include less spending on renewable sources and a bigger investment in oil and natural gas production.
BP vows ‘fundamental reset’ as it retreats from net zero
BP chief Murray Auchincloss says the restructuring will ‘be a new direction for BP’ - Amr Alfiky/Reuters. BP has halted all investment into renewable energy as part of a “fu
BP Touts ‘New Beginning,’ Fundamental Change in Strategy
BP said profit fell more than expected and that it would reset its strategy, days after reports that activist hedge fund Elliott Management is pushing for change at the company.
BP pledges reset as annual profit dips below $9 billion
BP CEO Murray Auchincloss pledged on Tuesday to fundamentally reset the company's strategy as it reported a 35% fall in annual profits, missing analysts' expectations. The drop in profit to $8.9 billion follows weekend reports Elliott Investment Management has built a stake in the company,
BP executive promises 'reset' after profits fell in 2024
BP Chief Executive Murray Auchincloss promised a "reset" for the company, including dialing back climate commitments, on Tuesday after a dip in annual profits and a threat from an influential activist investor.
BP CEO pledges 'fundamental reset' as Q4 profit drops 60%
BP (NYSE:BP) -1% in pre-market trading Tuesday as the company pledges to lay out a “fundamental reset of strategy and a new beginning” when it updates investors at the company's capital markets day on February 26,
BP’s overhaul can start with a new Chair
BP has a laundry list of problems. The $93 billion UK oil major has a confused strategy, an overleveraged balance sheet, and ...
BP: The Strategic Shift Investors Want
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 ...
BP Promises Big Changes After Attracting An Uninvited Guest
After a quarter century of lagging behind competitors, British oil giant BP has attracted the attention of big hedge fund ...
Aker BP has acquisition opportunities, top shareholder says
Norwegian oil exploration and production company Aker BP , built from a series of mergers and acquisitions in the last decade ...
Elliott Pushes Big Cost Cuts at BP to Preserve Its Independence
Elliott Investment Management is demanding BP Plc make drastic cost cuts and divestments to strengthen its future as a ...
The Economist2d
BP is underperforming and under pressure
BP ’s investments in low-carbon ventures added to the financial strain. The dismal results coincided with reports that ...
BP: Strategy Shift, Stock Buybacks, Cheap P/E
BP p.l.c.'s Q4 earnings dropped 61% Y/Y due to lower petroleum prices and refining margins. Read why I remain very bullish on ...
BP shares jumped 8% after renowned activist investor Elliott took a stake in the energy giant
Elliott is known for its aggressive activism in the companies it invests in, frequently pushing for rapid and significant ...
How Net-Zero’s Troubles Made BP Vulnerable
On this episode of In the City, we discuss what set the stage for Elliott Investment Management’s interest in the embattled ...