BP will announce updates on its $5 billion cost-cutting initiative on Tuesday, amid growing pressure from activist investor ...

BP is tearing up its own “fundamental reset” plan after just six months and cutting 1,500 more jobs as the struggling oil ...

The announcement was made alongside second-quarter results. BP reported adjusted profits of $2.4bn for the period, a third ...

BP has a long way to go, but its quarterly profits show the British oil giant is heading in the right direction.

BP will launch a review of how best to develop and monetise its oil and gas production assets and consider more cost cuts to ...

BP Plc will embark on fresh reviews of its portfolio and costs as the oil major works to reverse years of underperformance, ...

BP will issue an update on its progress in its $5B cost-cutting initiative alongside its half-year results on Tuesday, ...

Elliott Management is pressuring BP to double its structural cost reduction target to $10 billion by 2027, aiming to improve the company's stock performance.

Elliott Management is leading a resurgence of activist investors that are making their presence felt from Wall Street to Main Street. These hedge funds buy up minority positions in publicly traded ...

Elliott also backs BP's independent strategy and did not propose a merger, according to the source. BP said that it will be laying out a fundamental reset of its strategy on February 26.

This makes Elliott BP's second-biggest shareholder after Blackrock at 9.2% and ahead of Vanguard at 4.95%, according to LSEG data. BP's current market valuation is around $76 billion.

Last year, Elliott sought to have the airline's chief executive, Robert Jordan, removed. However, the fund reached an October 2024 settlement to add six new directors, including five candidates ...