BP Plc is a global energy company that engages in the exploration, production, refining, and distribution of oil and natural gas
The company operates a diverse portfolio of assets across various geographical regions, and is involved in both traditional energy sources and renewable energy initiatives. BP is dedicated to providing energy products while also committing to reducing carbon emissions and transitioning to low-carbon energy solutions, investing in technologies and projects that support sustainable energy practices. Through its operations, BP aims to meet the growing energy demands of the world while promoting environmental stewardship and social responsibility.
Stewart recently made a claim on his show that promotes a common misconception: “How about we just take $3 billion in subsidies we give to oil and gas companies that turn billions in profits?” Here's what that's inaccurate...
Bloomberg reported, citing people with knowledge of the matter, that Elliott viewed BP CEO Murray Auchincloss’s turnaround plan as lacking urgency and ambition.
Recently, new call option buying activity has floated into three stocks, signaling to investors that traders are highly convinced of higher prices ahead.
The company aims to divest $20 billion by 2027 through a strategic review of its lubricants business, Castrol, and by bringing a partner into its solar energy unit, Lightsource bp.
Despite previous missteps in the energy transition, BP remains a key player in the global oil and gas sector, with undervalued assets and a strong cash flow profile.
A Bloomberg report said the lubricants unit, whose products are sold under the Castrol brand, is also among the assets that Elliott has identified for potential disposals.
BP PLC shares are trading lower after the company reported fourth-quarter results. Sales and other operating revenues came in at $45.752 billion, missing the consensus of $47.511 billion. Hydrocarbon production was 850 mboe/d (-5.4% Y/Y), with underlying production declining 2.7% Y/Y mainly due to base decline in Egypt.
Activist investor Elliott Investment Management has amassed a $2.5 billion stake in Phillips 66, significantly expanding its position in the U.S. oil refiner and intensifying pressure for operational restructuring, particularly regarding its midstream business.
