BP will reveal on Tuesday its progress on a $5bn cost-cutting plan, as activist investor Elliott Management increases pressure on the energy major to rein in operating expenses more aggressively.

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.

BP (NYSE:BP) will issue an update on its progress in its $5B cost-cutting initiative alongside its half-year results on Tuesday, the Financial Times reported Monday, as activist investor Elliott ...

Update at 3 p.m. Adds response from BP. Elliott Investment Management has acquired a stake in BP (NYSE:BP), Bloomberg reported Saturday, citing people familiar with the matter. The people ...

It’s built up a nearly 5% interest in BP, according to the people, which would be worth around £3.7 billion ($4.6 billion) at BP’s current share price and make it one of Elliott’s biggest ...

Elliott, which is BP's (BP) second-largest shareholder after amassing a stake of slightly more than 5%, reportedly is not pushing for the removal of CEO Murray Auchincloss despite its ...

BP will announce updates on its $5 billion cost-cutting initiative on Tuesday, amid growing pressure from activist investor Elliott Management to take stronger action to reduce its operating expenses, ...

BP CEO Auchincloss has been working to bolster investor confidence in the £74-billion ($91.87-billion) company, amid rising concerns over the clarity of BP's strategic direction as it navigates ...

(Reuters) -BP Chair Helge Lund intends to step down "likely during 2026", the energy group said on Friday amid a campaign by activist hedge fund Elliott for more change at the company.

BP’s share price surged more than 6% in early morning trading on Monday after it was revealed that US activist shareholder Elliott Investment Management has built up a considerable stake in the ...

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 ...

Elliott’s ask for doubling the cost cuts target may hamper BP’s long-term growth, another major investor in the UK energy giant told FT, noting that “I would guess there is some upside to BP ...