Elliott Management Urges BP to Cut Spending [Yahoo! Finance]
BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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Source: Yahoo! Finance
“Eight weeks ago, we announced a fundamentally reset strategy, and our focus now is on delivering that at pace,” spokesman David Nicholas told Bloomberg in a statement. “We welcome constructive feedback from all shareholders as we focus on delivering.” The activist investor's free cash flow target for the supermajor is $20 billion annually by 2027, which is 40% above BP's own target, according to the Financial Times. Last year, BP declared free cash flow of just $8 billion, Reuters noted in a report on the latest news. The supermajor planned to boost this by some 20% annually through 2027, ending up with a total of just below $14 billion by that year, according to Reuters calculations. Elliott's spending proposal is for a reduction from $13-$15 billion annually over the next three years to some $12 billion annually. Reuters quoted an unnamed source as saying Elliott had discussed its intentions with more than 20 BP shareholders. The activist investor itself has n voting rights at
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BP
News
- Oil Sinks Despite Rate Cuts and Tanker Seizures [Yahoo! Finance]Yahoo! Finance
- BP (NYSE:BP) had its "overweight" rating reaffirmed by analysts at Barclays PLC.MarketBeat
- BP Brings Atlantis Expansion Online, Adding New Oil Volumes in the U.S. Gulf [Yahoo! Finance]Yahoo! Finance
- Gulf of Mexico Lease Sale Marks Strongest Bid Activity Since 2017 [Yahoo! Finance]Yahoo! Finance
- BP starts production at Atlantis Drill Center 1 expansion project [Yahoo! Finance]Yahoo! Finance
BP
Earnings
- 11/5/25 - Beat
BP
Sec Filings
- 12/1/25 - Form 6-K
- 12/1/25 - Form 6-K
- 11/6/25 - Form 13F-HR
- BP's page on the SEC website