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Top related persons:
Looney - 3 Helge Lund - 2 BP's - 2 Bernard Looney - 2 Looney's - 2 Murray Auchincloss - 2 Giuseppe Bivona - 1 Marco Taricco - 1
Top related locs:
bioenergy Europe Bluebell Paris Bioenergy United States U.S Vancouver , British Columbia
Top related orgs:
BP - 3 Shell - 3 Chevron - 2 REUTERS - 2 Thomson - 2 BP Bunge - 1 Bpx Energy - 1 Castrol - 1

Search resuls for: "BP's Board"


4 mentions found


☆ Activist Bluebell believes BP is 50% undervalued compared to peers
  + stars: | 2024-02-03 | by ( Kenneth Squire | ) www.cnbc.com   time to read: +11 min
The company's segments include gas & low-carbon energy, oil production & operations and customers & products. Its gas business includes upstream activities that produce natural gas, integrated gas and power, and gas trading. Its oil production & operations segment comprises upstream activities that produce crude oil, including Bpx Energy. As of Bluebell's October 4, 2023, letter to BP, BP traded on a price-earnings ratio of 6.7 times, a 44% discount to Chevron and ExxonMobil, which on average traded at 12 times. To make it even clearer how the market views BP's strategy, on February 7, 2023, when BP announced its partial retracement from this strategy, BP's share price rose 8% on the day and 17% on the week.
Persons: Giuseppe Bivona, Marco Taricco, Bivona, –, Helge Lund, Bluebell, BP's, Bernard Looney, Shell, Looney's, Looney, Pamela Daley, Solvay, Glencore, Ken Squire Organizations: BP Bunge, Bpx Energy, Castrol, Bluebell Capital Partners, Bluebell Partners, BP, ExxonMobil, Chevron, Bluebell, International Energy Agency, EV, Exxon, Shell, Mr, Renewables, Power, BP's Board, BlackRock, 13D Locations: bioenergy, Europe, Bluebell, Paris, Bioenergy, United States, U.S
☆ BP sticking with energy transition strategy, says interim CEO
  + stars: | 2023-09-13 | by ( Ron Bousso Dmitry Zhdannikov | Ron Bousso | Dmitry Zhdannikov | ) www.reuters.com   time to read: +4 min
BP scaled back its energy transition strategy earlier this year but still stands out among rivals as the only oil major with plans to cut oil and gas output by 2030 by 25%. Auchincloss told staff in a brief town hall meeting on Wednesday that the company's aims were unchanged. As part of his energy transition strategy he had committed to BP reaching net-zero emissions by 2050. BP's strategy came under renewed scrutiny after rival Shell (SHEL.L) slowed down its energy transition strategy in June. "(The BP board) have enough flexibility within the current strategy to focus more on cash flow," a second source close to the company said.
Persons: Chris Helgren, Looney, Murray Auchincloss, Bernard Looney's, Auchincloss, hasn't, Helge Lund, Murray, Ron Bousso, Dmitry Zhdannikov, Jane Merriman, Mark Potter, Elaine Hardcastle Organizations: BP, REUTERS, Board, Investors, Canadian, Reuters, Shell, Thomson Locations: Vancouver , British Columbia, Canada
☆ BP CEO Looney resigns over personal relationships with colleagues
  + stars: | 2023-09-12 | by ( Shadia Nasralla Ron Bousso | Shadia Nasralla | Ron Bousso | ) www.reuters.com   time to read: +4 min
Looney's surprise resignation came after allegations of personal relationships with company colleagues surfaced recently, prompting the company to launch an investigation. That followed allegations the board investigated in May 2022 relating to personal relationships with company employees. During that review, Looney disclosed "a small number of historical relationships with colleagues prior to becoming CEO." Looney informed BP's board on Tuesday that he did not fully disclose details of all relationships, prompting his resignation. BP shares ended up 1% before the FT earlier reported his resignation after trading closed in London.
Persons: Bernard Looney, Amr Abdallah Dalsh, Murray Auchincloss, Looney, Looney's, BP's, Bob Dudley, Anirudh, Krishna Chandra Eluri, Marguerita Choy Organizations: BP, Egypt's, Petroleum, REUTERS, BP Auchincloss, Shell, Chevron, Exxon Mobil, Morningstar, Reuters, Thomson Locations: Cairo, Egypt, London, New York, COVID, Russia, Ukraine, Bengaluru, Shadia
☆ Norway's oil fund to vote against climate resolution at BP
  + stars: | 2023-04-22 | by ( Nerijus Adomaitis | Industry Insight | Reuters Professional | ) www.reuters.com   time to read: +2 min
Companies Bp Plc FollowOSLO, April 22 (Reuters) - Norway's $1.4 trillion sovereign wealth fund, one of the world's largest investors, said on Saturday it will vote against a resolution calling on British oil major BP (BP.L) to adopt tougher greenhouse gas targets. The Norwegian fund, itself built on oil and gas revenue, owned 2.73% of BP's shares worth some $2.8 billion at the end of 2022. BP's board has recommended that shareholders vote against the resolution saying it was "unclear" what it wanted the company to do. Investor advisers ISS and Glass Lewis also recommended BP shareholders oppose the resolution, while Britain's Local Authority Pension Fund Forum (LAPFF) asked investors to back it. In February BP rowed back on plans to slash its 2019 oil and gas output levels by 40% by 2030, and now it envisages a 25% cut, angering climate activists.
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