The BP logo is shown outside a service station that also offers electric vehicle recharge, on February 27, 2025, in Somerset, England.
Anna Barclay | Getty Images News | Getty images
BP The shares jumped on Wednesday after the activist investor Elliott was made public with a participation of more than 5% in the great specialty of British oil, which has returned to pivot the oil in an attempt to restore investors’ confidence.
BP shares were last viewed by 4.75% at 9:44 am, London time. The price of the shares listed in London has dropped around 5% in the year to date.
The Elliott Management coverage fund has built its participation in British oil greater than 5.006%, according to a regulatory presentation revealed on Tuesday night. The other BP BP shareholders include Blackrock, Vanguard and the Norway Sovereign Wealth Fund.
It was reported that Elliott had assumed a position in the oil and gas company in February, which carries out a sharing rally amid the expectations that their participation could press BP to change the equipment of its green strategy and delay its oil and central business.
In a matter of weeks, BP, which has been lagging with national rivals between peers and transatlantic rivals and registered a strong drop in the fourth quarter, announced plans to increase fossil fuel investments to $ 10 billion until 2027. This marked an acute strategic deviation for the company, which five years ago became one of the first energy giants to announce the plans to reduce plans to reduce Net zero “for 2050 550” to 2050 550 “. As part of that impulse, the compatted to cut emissions by up to 40% by 2030 and increase investment in renewable energy projects.
Major oil reduced this emission objective to 20% to 30% in February 2023, saying at that time that he needed to continue investing in oil and gas to meet global demand.
Since I changed Gears, the BP CEO, Murray Auchincloss, and outgoing President Helge Lund-who is expected to leave the company in 2026 withdrew their positions, but were penalized with reduced support during the month in the middle of previous votes and previous to the climate-centered investors.
The strategic restart of BP is done again the company’s oil and gas activities, just when crude oil prices began to immerse themselves in the midst of volatility caused by US tariffs and Washington’s commercial deployment with China, the world’s largest crude raw importer.
Energy analysts have welcomed the strategic restart, and the CEO of BP, Murray Auchincloss, has attracted from the pivot that attracted the “significant interest” in the non -basic assets of the company.
The energy firm never remains firmly in the center of attention as a potential acquisition objective, with the tastes of Shell oil giants and the United States Exxon Mobil and Chevron promoted as possible suitors.
BP is scheduled to inform the first quarter earnings on Tuesday. The company has said that it anticipates the lowest reported production and a greater net debt in the first quarter than in the last three months of 2024.
