Investor Group Seeks to Steer BP Back to Oil and Gas ...Middle East

OILPRICE - Economy
source : OILPRICE ( Middle East ) () 23
A leading London activist investor group is pressuring oil giant BP to ditch renewable energy and maintain its fossil fuel operations for shareholders, reports suggest. The Financial Times this morning reported that Bluebell Capital Partners wrote to BP chair Helge Lund in October after taking a small stake in the company. The letter decried BP’s commitment to reduce oil and gas production by 25 per cent by 2030 against 2019 levels as an “irrational strategy” that has depressed its share price. The target is a legacy commitment…

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