According to a report by The Times, which cited filings with the U.K.’s Financial Conduct Authority, Elliott’s position against Shell is the biggest short position disclosed against the oil major in nearly a decade.
BP plans to sell its mobility and convenience business in Austria, including 260 retail sites, as part of its strategy to reshape downstream operations.
BP will continue to be the controlling shareholder of BP TANAP and retain long-term commercial and strategic interests, including governance rights, in the pipeline.
BP plc's stock shows strong bullish momentum as it approaches a Golden Cross, with multiple moving averages reinforcing the trend. Offshore wind development and potential sale of Castrol could be catalysts for further gains.
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.
