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 Elliott Investment Management, an aggressive activist hedge fund, has taken a substantial stake in the oil giant.
BP to ‘Reset’ Strategy After Pressure From Investors, C.E.O. Says
The energy giant was vague on details, but analysts say the changes will likely include less spending on renewable sources and a bigger investment in oil and natural gas production.
BP CEO Says Oil Major’s Big Reset Has Been a Year in Making
BP Plc CEO Murray Auchincloss insisted that the company’s “fundamental reset” has been in the works for a year, while refusing to comment on an analyst’s question about whether he’s had engagement with activist Elliott Investment Management.
BP pledges strategy reset as annual profit falls by a third
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.
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 Misses Income Estimates, Pledges Strategy ‘Reset’
Two key words: strategy reset. What does that mean? It's a good question. I think people have a suspect, what it could mean and why they might be doing it this time. Obviously, over the weekend, we had the news that Elliott investment management has taken a stake in BP and was going to planning to push for significant changes.
PBS20d
bp oil spill
The Justice Department and five states on Monday announced a $20 billion final settlement of claims arising from the 2010 Deepwater Horizon oil spill in the Gulf of Mexico. BP has reached an ...
Nature1mon
Offshore oceanic impacts from the BP oil spill
Offshore drilling is a direct result of the growing global appetite for oil and gas. At present, ecosystems in the Gulf of Mexico are being exposed to an oil spill larger in magnitude and ...
Hosted on MSN9mon
BP Bets Big, Again, On the Gulf of Mexico
Then in 2010, the Deepwater Horizon explosion caused the biggest offshore oil spill in U.S. history ... has more riding on these Gulf of Mexico waters than BP, investors and industry ...
Center for Biological Diversity2mon
A Deadly Toll
The widespread pollution from the BP oil spill caused fishing closures across 88,500 square miles. The Gulf of Mexico is home to more than 500 fish species, with new species continuing to be ...
Tuoi Tre news8d
Thai PTTEP could bid for BP's assets in Vietnam
Thailand's PTT Exploration and Production said on Tuesday it was looking at BP's assets in Vietnam but had not appointed ...