BP reportedly set to scrap production cuts
BP PLC's (LSE:BP.) corporate strategy will be under intense scrutiny if, as foretold by the Financial Times, CEO Murray Auchincloss prepares to abandon oil and gas production cuts at the company's investor day.
BP reverses course on renewables, focuses on oil and gas amid investor pressure
BP's Chief Executive Officer has reportedly made a significant strategic shift, opting to refocus on fossil fuels and move away from the previous target of a 20-fold increase in renewable energy generation by 2030. This decision comes in response to investor concerns over earnings and aims to address those concerns directly, Reuters reported on Monday.
Exclusive: BP to ditch renewables goals and return focus to fossil fuels
BP's chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil fuels, as part of a strategy shift announced on Wednesday to tackle investor concerns over earnings, two sources told Reuters.
BP disposals and spin-offs may ‘make sense' on activist pressure - analysts
BP PLC has emerged at the centre of activist pressure in several directions in recent days, leaving speculation over the likes of disposals or spin-offs. Citing reports that hedge fund Elliot Management had become a top three shareholder, RBC analysts flagged growing uncertainty around BP's next move to appease activists.
BP: 5 Levers To Pull At The Investor Day
We identify 5 levers which management should pull in order to improve BP's value and adress recent underperformance. Building partially on Shell's playbook, we believe key items to watch will be how management will improve BP's bloated cost structure and a resolute fix-sell-close strategy across the portfolio. Openness to changes in the advisory board and targeted divestments to strengthen the balance sheet could further help regain investor appreciation, in our view.
Lightsource bp secured 10 power purchase deals totalling 1.3 GW last year
Renewable energy developer Lightsource bp, a unit of British oil company BP , secured 10 power purchase agreements (PPAs) last year totalling 1.3 gigawatts (GW) of renewable energy capacity globally, the firm said on Wednesday.
BP weighs sale of $10 billion Castrol lubricants unit, Bloomberg News reports
Oil major BP is considering a potential sale of its lubricants business, Castrol, which could be worth about $10 billion in a deal, Bloomberg News reported on Tuesday, citing people familiar with the matter.
Elliott discloses nearly $5 billion stake in BP, FT reports
Activist investor Elliott Management has disclosed a stake of about 3.8 billion pounds ($4.75 billion) in BP , making it the oil giant's third-largest shareholder, the Financial Times reported on Thursday, citing people close to the matter.
BP Q4 Earnings & Revenues Miss Estimates on Lower Price Realizations
BP Q4 earnings and revenues decline year over year due to lower commodity price realizations and weaker contributions from its customers and products business segment.
BP Promises Big Changes After Attracting An Uninvited Guest
British major integrated company BP announced plans on Monday for what it calls a “new beginning” in its continuing efforts to regain its footing and become more competitive with peer companies like Shell, Chevron, and ExxonMobil.
BP results heighten expectations around strategy update later this month
BP PLC (LSE:BP.) shares struggled for direction after the oil giant reported its lowest quarterly profit for four years but promised to "fundamentally reset" its strategy.
2 Oil Stocks in Focus Amid Earnings, Investments
The shares of energy giants BP plc (NYSE:BP) and Phillips 66 (NYSE:PSX) are moving in opposite directions this morning.
