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Https://www.peakframeworks.com/post/elliott-management-overview#:~:text=It%20was%20founded%20by%20Paul,financial%20services%2C%20and%20energy%20companies.

BP announced plans to "fundamentally reset" its strategy Tuesday as Elliott Investment Management reportedly has taken a "significant" stake in the British oil giant.

BP CEO Murray Auchincloss said the company plans to share a "new direction" during its Capital Markets Update on Feb. 26.

BP has pivoted away from its core oil and gas business toward low-carbon operations in recent years.

BP (BP) announced plans to "fundamentally reset" its strategy Tuesday as Elliott Investment Management reportedly has taken a "significant" stake in the British oil giant.

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BP CEO Murray Auchincloss said the company plans to share a "new direction" during its Capital Markets Update on Feb. 26.

Elliott has taken a "significant" stake in BP, Bloomberg reported over the weekend, as its shares have underperformed those of larger rivals ExxonMobil (XOM) and Shell (SHEL) after the company pivoted away from oil and gas in recent years to focus on low-carbon investments.

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"Building on the actions taken in the last 12 months, we now plan to fundamentally reset our strategy and drive further improvements in performance, all in service of growing cash flow and returns," Auchincloss said.

BP Reported Q4 Underlying Profit Below Estimates

For the fourth quarter, BP booked an underlying replacement-cost (RC) profit of $1.17 billion, below Visible Alpha consensus and down from $2.99 billion a year ago.

BP shares, which were down roughly 5% over the past 12 months through Monday's close, edged lower in premarket trading.

I thought their holding would be above 3%

Thank you

Jezzo brilliant that made me laugh😄

Jakers your wife’s satnav so funny

I agree time for a change

Where is the RNS for the holding of Elliott

Have a very very good feeling this is our year (£6.40)

Onwards and upwards 🎉🎉🎉🎉🎉🎉🎉

Https://www.proactiveinvestors.co.uk/companies/news/1065986/ftse-100-live-bp-results-awaited-uk-retail-sales-rebound-1065986.html#

Https://www.livecharts.co.uk/MarketCharts/brent.php

Profit at oil and gas giant BP slumped by nearly 50 per cent in the fourth quarter of last year as the group took hefty writedowns on inventory.

Overall, the company reported a loss for the fourth quarter of $2bn (£1.6bn), compared with a profit of $0.2bn in the same period last year.

Underlying replacement cost profit – which reflects the cost of replacing inventory sold, excluding inventory holding gains/losses – for the quarter fell from $2.3bn in the third quarter of 2024 to $1.2bn.

The company said operating cash flow for the quarter came in at $7.4bn, around $0.7bn higher for the quarter, and it ended the year with net debt of $23bn.

Https://oilprice.com/Energy/Energy-General/Elliott-Investment-Management-Targets-BP-for-Strategic-Overhaul.html

Investors

Webcast details

bp’s chief executive officer, Murray Auchincloss, and chief financial officer, Kate Thomson, will host a question-and-answer session covering our results for the fourth quarter and full year 2024, at 1pm GMT/8am EST on Tuesday 11 February.

The session is expected to finish at around 1.45pm GMT/8.45am EST.

Date

Tuesday 11 February

Time

1pm GMT/8am EST – 1.45pm GMT/8.45am EST (approx)

It’s thought BP’s other clean energy assets such as Lightsource, a solar energy and battery storage unit, could be a target for Elliott, whose intentions so far remain unclear.

With Elliott now involved, investors will be watching closely to see whether BP takes a more aggressive approach to restructuring or faces increased pressure to make leadership changes.

As the situation develops, BP’s future strategy could be shaped as much by its activist investors as by its executives.

BP stock’s underperformance fuels calls for transformation

BP has struggled to keep pace with its peers.

Over the past five years, its stock has declined nearly 8%, while rivals such as Shell and TotalEnergies (LON:TTEF) have gained about 30%.

Investors have grown increasingly frustrated with BP’s strategic direction, particularly as it pivots toward renewable energy and away from traditional fossil fuels.

Last month, BP issued a trading update warning of higher corporate costs, lower refining margins, and one-off charges linked to its bio-ethanol acquisition.

The company is also looking to sell its German refinery assets and recently announced plans to cut 4,700 jobs as part of a broader effort to achieve $2 billion in cash savings by 2026.

Elliott is expected to advocate for what it calls “transformative measures” to unlock shareholder value, according to sources familiar with the matter, Bloomberg reported.

The hedge fund has a long history of pushing for significant corporate changes, including strategy shifts, executive departures, and even company breakups.

A critical moment for BP’s leadership

BP’s leadership has faced a series of challenges over the years, from the Deepwater Horizon disaster in 2010 to the sudden departure of former CEO Bernard Looney last year over personal conduct issues.

The company’s latest struggles have raised questions about whether its current management can deliver the returns investors expect.

Auchincloss is under increasing pressure to prove that BP’s current strategy can deliver sustainable growth.

The upcoming investor day on February 26 will be a key moment for the CEO to outline how he plans to address concerns about BP’s direction and underperformance.

Invezz.com - BP (LON:BP) shares surged on Monday, rising nearly 7% in early trading, after reports emerged that activist hedge fund Elliott Investment Management had acquired a stake in the British oil giant.

The size of Elliott’s holding has not been disclosed, but its involvement is already fuelling speculation about potential changes to BP’s strategy and leadership.

The stock climbed to 462p from its Friday close of 433.25p, marking a significant rebound from its November low of 367p.

Before Monday’s rise, BP shares had fallen nearly 10% over the past year, lagging behind rivals such as Shell (LON:SHEL), which remained largely unchanged in trading.

Elliott’s move could result in a major shake-up at BP

Analysts believe Elliott’s move could result in a major shake-up at BP, including potential changes to its board and strategy.

RBC Capital Markets analyst Biraj Borkhataria suggested that “any activist would call for a change in the chairperson at the very least.”

BP has been chaired by Helge Lund since 2019, and the company recently postponed an investor day to February 26, citing CEO Murray Auchincloss’ recovery from a medical procedure.

The event is expected to be crucial as Auchincloss lays out his vision for BP’s future, amid growing investor concerns over the company’s direction.

Jefferies analysts believe Elliott could push for BP to scale back its investments in low-carbon assets and exit certain retail markets.

Instead, the hedge fund is likely to advocate for a renewed focus on upstream oil and gas projects to maximize cash flow generation.

This is getting very exciting

How much per share for a bid

Barclays say £10

That’s very possible

Bring it on 🎉

Https://www.atlanticcouncil.org/events/flagship-event/global-energy-forum/musabbeh-al-kaabi/#:~:text=Musabbeh%20Al%2DKaabi%20is%20the,mergers%20and%20acquisitions%2C%20and%20exploration.

Just looked him up

https://socar.de/en/socar-2/president-of-socar/#:~:text=President%20of%20the%20State%20Oil,Azerbaijan%20State%20University%20of%20Economics.

(Alliance News) - Elliott Investment Management has built a significant stake in BP PLC, and called on the oil major to consider transformative measures, according to Bloomberg.

As mentioned, we do not think that Elliott has enough of a stake in BP yet to force a sale of the company, however, if there was a firm offer on the table for BP in the coming weeks, then the stock price could take off, in our view.”