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 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 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 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 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 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 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.
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 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 ...
In the City: How Net-Zero’s Troubles Made BP Vulnerable
The City of London is reinventing itself and Bloomberg’s Francine Lacqua and David Merritt go behind the scenes uncovering ...
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 ...
Total, Aker BP seek bigger stakes in giant Equinor oilfield
TotalEnergies and Aker BP are seeking an independent review of their stakes in Equinor's Johan Sverdrup oilfield with a goal ...
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 ...
BP PLC (BP) Q4 2024 Earnings Call Highlights: Strategic Progress and Shareholder Returns Amidst ...
BP PLC (BP) reports increased upstream production, a 10% dividend hike, and $7 billion in share buybacks, while navigating ...
British oil major BP reports sharp drop in fourth-quarter profit, vows strategy reset
British oil major BP on Tuesday posted a sharp drop in fourth-quarter profit, pledging to "fundamentally" reset the embattled ...