Aankondiging • Apr 23
Elliott Management Wants BP to Boost Free Cash Flow to $20 Billion by 2027 On April 22, 2025, Elliott Management Corporation urged BP p.l.c. to increase its free cash flow to $20 billion by 2027 from around $8 billion last year through significant spending cuts and cost reductions. Elliott Management has increased its stake in the Company to just over 5% and has met with more than 20 of the Company's shareholders regarding these demands. Elliott Management stated that it had discussed the need for deeper spending and cost cuts and potential leadership changes with other Company shareholders and wanted the Company to divest its renewable power business. Aankondiging • Apr 11
BP P.l.c. Provides Production Guidance for the First Quarter and Full Year 2025 BP p.l.c. provided production guidance for the first quarter and full year 2025. Reported upstream production in the first quarter is expected to be lower compared to the prior quarter, with production slightly higher in oil production & operations and lower in gas & low carbon energy including the already announced divestments in Egypt and Trinidad completed towards the end of prior quarter.
For the year 2025, Reported upstream production to be lower and underlying upstream production to be slightly lower than 2024, of which oil production & operations broadly flat and gas & low carbon energy lower. Aankondiging • Apr 04
BP p.l.c. Announces Helge Lund Informs the Board of His Intention to Step Down as Chair BP p.l.c. announced that the company's board of directors has initiated a succession process to select a new Chair, after Helge Lund informed the board of his intention to step down in due course. The succession process is being led by Dame Amanda Blanc, in her capacity as Senior Independent Director, with support from the wider board. It is intended that the successful candidate will join the board and work together with Helge to ensure an orderly transition ahead of taking on the role of Chair, at which point Helge will step down from the board, most likely during 2026. Whilst this succession process progresses, the board's focus will remain on overseeing management's delivery of the new strategy and this will continue to be their key priority under the new Chair. Aankondiging • Apr 01
Local Authority Pension Fund Forum Recommends Votes Against BP Chair On March 31, 2025, Local Authority Pension Fund Forum (LAPFF) recommended that shareholders vote against the re-election of BP p.l.c. Chair Helge Lund, BP's annual report, remuneration report and abstain on whether BP CEO Murray Auchincloss should be re-elected. LAPFF stated that proxy advisors Institutional Shareholder Services Inc. (ISS) and Glass Lewis have recommended that shareholders vote in favour of the re-election of the Company's board, management and annual report at the April 17, 2025, annual general meeting. Aankondiging • Mar 21
Funds managed by Apollo Global Management, Inc. (NYSE:APO) agreed to acquire 25% stake in BP Pipelines (Tanap) Limited from BP p.l.c. (LSE:BP.) for $1 billion. Funds managed by Apollo Global Management, Inc. (NYSE:APO) agreed to acquire 25% stake in BP Pipelines (Tanap) Limited from BP p.l.c. (LSE:BP.) for $1 billion on March 21, 2025. Under the agreement, Apollo funds will purchase the non-controlling shareholding in bp TANAP for a consideration of approximately $1.0 billion. Proceeds arising from this transaction will contribute towards bp’s programme for $20 billion in divestment and other proceeds. bp will remain the controlling shareholder of bp TANAP and retain a long-term commercial and strategic interest, including governance rights.
The transaction is anticipated to close in 2Q 2025, subject to regulatory and TANAP shareholders approvals. Aankondiging • Mar 14
BP Reportedly Seeks to Sell 50% of Solar Unit to Strategic Partner BP p.l.c. (LSE:BP.) is seeking to sell 50% of its solar unit Lightsource bp (Lightsource bp Renewable Energy Investments Limited) to a strategic partner for cash and a commitment of future investments, with bids due in June, the energy major said in a sales document seen by Reuters. London-listed BP is planning asset sales and partnerships as part of a broader plan to address investor concerns. The energy group wants to cut costs and improve its return on investments to boost its share price and profit. In a document dated March 2025, seen by Reuters, the company said it was seeking a strategic partner for half of the solar company this year, in a cash transaction with a commitment for follow-on investment. Called Project Scala, BP is seeking a strategic partnership with "established leaders with extensive experience" in the renewables industry, according to the document. Governance of the emerging entity would reflect joint control of the assets, BP said in the document. Initial, non-binding offers are due in June and the company will shortlist bidders in July. When asked about the sales document, BP said it intended to bring in a partner for Lightsource bp and launch a sales process in the near future but declined to comment further. Aankondiging • Feb 27
BP p.l.c. to Report Fiscal Year 2024 Results on Mar 06, 2025 BP p.l.c. announced that they will report fiscal year 2024 results on Mar 06, 2025 Aankondiging • Feb 26
BP Drops Plans to Lower Oil and Gas Output On February 25, 2025, BP p.l.c. is slated to announce a possible sale of its lubricants unit and drop plans to lower oil and gas output as it begins to shift away from renewable energy amid pressure from Elliott Management Corporation. The Company stated that in a strategy presentation, CEO Murray Auchincloss has pledged to ‘fundamentally reset’ the Company following 5 years of investment in clean energy that left investors displeased with their returns, the authors note. Aankondiging • Feb 20
BP Reportedly Weighs Sale of Castrol Lubricants Unit Amid Elliott Push BP p.l.c. (LSE:BP.), in which activist investor Elliott Investment Management L.P. has built up a nearly 5% stake, is considering a potential sale of its lubricants business, according to people familiar with the matter. The oil major’s unit, which operates under the Castrol brand, could be worth about $10 billion in a deal, the people said, asking not to be identified as the matter is private. A sale of the business is one of the many options BP is considering to win back investor confidence after years of under performance, the people said. The unit is also among the assets that Elliott has identified for potential disposals, the people said. Aankondiging • Feb 15
Elliott Management Reportedly Pushing BP to Sell Assets and Cut Green Spending BP p.l.c. (LSE:BP.) has been ordered to cut spending on renewable energy by its third largest shareholder as pressure grows on the oil giant to boost investor returns. Elliott Management Corporation is said to be pushing BP to make a string of divestments as it emerged the US hedge fund has taken a near 5% stake in the company worth £3.8 billion. It means Elliott, run by the billionaire Paul Singer, is now BP's third biggest investor behind BlackRock and Vanguard, which have stakes of 9% and 5% respectively, the Financial Times reported. A decision to lower investment in green energy such as wind, solar, biofuel and hydrogen would mark a major reversal for BP, which has poured billions of pounds into renewables in recent years in a strategy pursued under Bernard Looney, its former chief executive. A source close to Elliott told the FT: "The time for minor course corrections at BP is long gone. The level of undervaluation [of BP] is profound and the pathway to alleviate that undervaluation is clear and addressable". Elliott Management views BP's investments in its green energy ventures as a poor use of capital that helped contribute to lower return for investors. BP's share price spiked earlier this week after it emerged Elliott had taken a stake in the FTSE 100 oil major, before Murray Auchincloss, its chief executive, promised a "fundamental reset" of company strategy. Elliott and BP were contacted for comment. Aankondiging • Feb 11
BP p.l.c. Announces Interim Dividend, Payable on 28 March 2025 BP p.l.c. announced an interim dividend of 8.000 cents per ordinary share which is expected to be paid on 28 March 2025 to ordinary shareholders and American Depositary Share (ADS) holders on the register on 21 February 2025. The ex-dividend date will be 20 February 2025 for ordinary shareholders and 21 February 2025 for ADS holders. Aankondiging • Feb 10
Activist Elliott Reportedly Builds Stake in Oil Major BP Elliott Investment Management L.P. has built a significant stake in BP p.l.c. (LSE:BP.) according to people familiar with the matter, as the British oil major struggles to win back investor confidence and reverse years of underperformance. The activist fund is seeking to boost shareholder value by pushing the company to consider transformative measures, the people said, asking not to be identified because the discussions are private. Elliott believes BP is significantly undervalued and its performance is disappointing, they said. The exact size of the stake couldn’t be immediately learned. Aankondiging • Nov 15
BP p.l.c. to Report Q4, 2024 Results on Feb 11, 2025 BP p.l.c. announced that they will report Q4, 2024 results on Feb 11, 2025 Aankondiging • Oct 18
BP Reportedly Weighs Sale of Minority Stake in Offshore Wind Business BP p.l.c. (LSE:BP.) is considering selling a minority stake in its offshore wind business, according to four sources with knowledge of the matter, the latest effort by Chief Executive Officer Murray Auchincloss to scale back the energy company's focus on renewables. The company has faced pressure from shareholders over its energy transition strategy, first launched in 2020, as renewables profit thinned while margins from oil and gas rose. The London-listed oil company has lined up Bank of America Corporation (NYSE:BAC) to find partners for the business, the sources said, speaking on condition of anonymity because the process is private. BP wants to reduce its share of the hefty investments required to develop these projects, two of the sources said. A spokesperson for BP declined to comment. BP remains committed to developing its major offshore wind projects, one source said. The company has also invested in solar, biofuels and low-carbon hydrogen in recent months. Aankondiging • Oct 15
Bluebell Capital Partners Calls for Executive Changes at BP On October 14, 2024, Bluebell Capital Partners announced that it is doubling down on its call for BP p.l.c. to remove its chairman and lead independent director, while urging the Company to comment on a media report that detailed a further change in the Company's strategy. In the letter, Bluebell Capital Partners reiterated its previous call for the Company Chairman Helge Lund and lead independent director Amanda Blanc to be removed. Bluebell Capital Partners said it is holding Lund responsible for the Company's management while saying Blanc refused to make herself available to address its concerns. Aankondiging • Sep 18
Funds managed by Apollo Global Management, Inc. (NYSE:APO) entered into agreement to acquire 20% stake in Trans Adriatic Pipeline AG from BP p.l.c. (LSE:BP.) in a transaction valued at $1 billion. Funds managed by Apollo Global Management, Inc. (NYSE:APO) entered into agreement to acquire 20% stake in Trans Adriatic Pipeline AG from BP p.l.c. (LSE:BP.) in a transaction valued at $1 billion on September 16, 2024. Upon completion, BP will retain the controlling interest in bp Pipelines TAP post-transaction, ensuring continued oversight of its strategic asset. The acquisition includes the final 880km section of the Southern Gas Corridor pipeline system. Post completion of the acquisition, bp and Apollo will also look to partner on additional investment opportunities, including potential co-operation in both gas and low carbon energy assets, and infrastructure.
The transaction is subject to customary regulatory and partner approvals required and expected to close in 4Q 2024. The proceeds from the transaction will contribute to bp’s 2024 divestment and other proceeds target of $2-3 billion, part of the company’s disciplined financial frame. Aankondiging • Jul 12
BP, Shell and Total Take Stake in UAE Energy Project British energy giants BP p.l.c. (LSE:BP.) and Shell plc (LSE:SHEL), and France's TotalEnergies SE (ENXTPA:TTE), will each take a 10% stake in a liquefied natural gas project in the United Arab Emirates, state energy giant Abu Dhabi National Oil Company (ADNOC) has said. Japanese trading company Mitsui & Co., Ltd. (TSE:8031) will also acquire 10% of the Ruwais LNG plant, scheduled to come online in 2028, Adnoc said. Adnoc, the UAE's key revenue-earner, will retain a 60% majority stake. The plant, under development in Abu Dhabi, is expected to produce about 9.6m metric tonnes a year, more than doubling the company's LNG production capacity in the UAE. Aankondiging • Jun 21
BP p.l.c. (LSE:BP.) has entered into definitive agreement to acquire remaining 50% stake in BP Bunge Bioenergia S.A. from Bunge Global SA (NYSE:BG) at an enterprise value of approximately $1.4 billion. BP p.l.c. (LSE:BP.) has entered into definitive agreement to acquire remaining 50% stake in BP Bunge Bioenergia S.A. from Bunge Global SA (NYSE:BG) at an enterprise value of approximately $1.4 billion on June 20, 2024. The enterprise value of the stake to be acquired is approximately $1.4 billion. Upon completion, Upon completion, bp will become sole owner of the industrial scale sugarcane and ethanol business, enabling bp to accelerate value creation through integration with bp’s trading and technology capabilities and BP p.l.c. will own 100% stake in BP Bunge Bioenergia S.A. The enterprise value of the stake to be acquired is approximately $1.4 billion. The acquisition will result in consolidation of 100% of the venture’s financial results, including net debt of approximately $0.5 billion and lease obligations of approximately $0.7 billion. The purchase price is subject to customary closing adjustments. For the year-end 2023, bp Bunge Bioenergia unaudited adjusted EBITDA (as defined in the bp Annual Report and Form 20-F 2023) was $0.8 billion. Following completion, bp will have the capacity to produce around 50,000 barrels a day of ethanol equivalent from sugarcane through bp Bunge Bioenergia’s 11 agro-industrial units across five Brazilian states.
Closing of the transaction is subject to customary conditions, including receipt of required regulatory approvals. This second and final monetization event of Bunge’s ownership in the business is expected to yield net proceeds close to $800 million, depending on timing of closing and customary closing adjustments. J.P. Morgan is acting as exclusive financial advisor to Bunge, and Tauil & Chequer Advogados associated with Mayer Brown, is acting as legal counsel. Aankondiging • May 24
BP p.l.c. (LSE:BP.) agreed to acquire X Convenience. BP p.l.c. (LSE:BP.) agreed to acquire X Convenience on May 22, 2024. The acquisition is subject to customary approvals. Aankondiging • May 09
BP P.L.C. Announces Board Appointments BP p.l.c. announced that Hina Nagarajan and Johannes Teyssen have been appointed as members of the people and governance committee with effect from 6 May 2024. Dr. Teyssen joined the Board as a non-executive Director on 1 January 2021. He is a member of the safety and sustainability committee. Ms. Nagarajan joined the Board as a non-executive Director on 1 March 2023. She is a member of the audit committee. Aankondiging • May 03
BP p.l.c. Names Kartikeya Dube as Its New Head of Country, BP India and Senior Vice President, Gas and Low Carbon, for India, Effective July 1, 2024 BP p.l.c. has named Kartikeya Dube as its new head of Country (HoC), bp India and senior vice president, gas and low Carbon, for India, effective July 1, 2024. Dube has more than 20 years of experience and has served in senior roles in finance, commercials and business transformation in India, Singapore and UK. He has served as vice president vice president, Group Investor Relations in bp's head office in London driving investor engagement. He was earlier involved with establishing the bp joint ventures with Reliance in India. He has served as CFO for Jio-bp. Aankondiging • Apr 19
BP PLC Announces Management Changes BP PLC is simplifying its organisational structure, supporting delivery of the priorities it set out in February 2024 to grow the value of the company. The company will continue to have three businesses - production & operations, gas & low carbon energy and customers & products - enabled by trading & shipping. The current regions, corporates & solutions organisation will be integrated into the businesses and functions, and the company will now be supported by five functions: finance; technology; strategy, sustainability & ventures; people & culture; and legal. Together these changes will reduce duplication and reporting line complexity. bp's executive leadership team will reduce in size to ten members. bp's financial reporting structure remains unchanged. William Lin, who previously led regions, corporates & solutions, will now lead the gas & low carbon energy business, succeeding Anja-Isabel Dotzenrath who is retiring from bp and her executive career. Emeka Emembolu will head bp's technology function, taking over from Leigh-Ann Russell who is leaving bp for an external opportunity. William Lin is already a member of bp's leadership team in his current role as executive vice president for regions, corporates & solutions. For the past four years, he has led RC&S as a key integrator of bp's global activities with customers, partners, and governments.?William has worked in bp for 28 years, holding senior management roles across the world including in Asia Pacific, Egypt and the US, and as head of bp's group chief executive office and as chief operating officer in the former Upstream responsible for all oil and gas regions across the portfolio. Emeka Emembolu has worked as chief of staff for the past two years. In this role he has run the CEO office and provided direct support and advice to the bp leadership team. Emeka has been with bp for 25 years, starting his career working offshore as an engineer. Before joining the executive office, he ran bp's business in the North Sea. Prior to that, he held a range of senior technical leadership roles in the Gulf of Mexico/Canada, North Africa, and Alaska businesses and in bp's subsurface function. Aankondiging • Mar 12
BP p.l.c. Announces the Interim Dividend for the Fourth Quarter of 2023, Payable on 28 March 2024 On 6 February 2024, the Directors of BP p.l.c. announced that the interim dividend for the fourth quarter of 2023 would be USD 0.07270 per ordinary share (USD 0.4362 per ADS). This interim dividend is to be paid on 28 March 2024 to shareholders on the share register on 16 February 2024. The dividend is payable in cash in sterling to holders of ordinary shares and in US dollars to holders of ADSs. 
