Activist European hedge fund Bluebell Capital Partners has called on FTSE 100 oil producer BP plc to rethink its energy-transition strategy for fear of losing market value and netting poor returns in solar and wind farm projects. Headed by Giuseppe Bivona and Marco Taricco, Bluebell argued that BP’s expectation of a “drastic decline in oil and gas demand” is “utterly unrealistic”. Bivona told The Guardian that BP should “stay away from businesses in which they have no right to win” and where expected return ...

Activist investor Bluebell Capital Partners is pushing for BP to urgently change tack, saying it is "highly debatable" whether the oil major's strategy of reducing fossil fuel investments in favor of clean energy has any chance of succeeding.Giuseppe Bivona, partner and co-chief investment officer at Bluebell, on Tuesday said that the FTSE 100 energy company's depressed share price relative to its U.S. and European peers had been "totally underwhelming" in recent years, and that it should now consider deplo ...

In the latest market close, BP (BP) reached $35.63, with a +1.37% movement compared to the previous day. The stock's change was more than the S&P 500's daily loss of 0.07%. Meanwhile, the Dow experienced a rise of 0.16%, and the technology-dominated Nasdaq saw a decrease of 0.36%.The the stock of oil and gas company has fallen by 0.51% in the past month, leading the Oils-Energy sector's loss of 2.53% and undershooting the S&P 500's gain of 3.05%.The investment community will be closely monitoring the perfor ...

Economies across the world are gradually transitioning to cleaner energy sources. There has been a steady increase in pressure on energy companies to act on climate change on multiple fronts. Most analysts believe that although renewable energy will meet future energy needs, it will not completely wipe out oil and natural gas demand. Demand for fossil fuels will also grow but at a slower pace.The U.S. Energy Information Administration, in its Annual Energy Outlook 2023, revealed that through 2050, renewable ...

BP plc (BP) anticipates that the Calypso deepwater natural gas field, located offshore Trinidad and Tobago, will receive approval for its final investment decision (FID) as early as the end of 2025, per a Reuters report.BP, which holds a 30% stake in the Calypso discoveries, had previously projected that the FID could be made in 2026. However, David Campbell, the head of BP's Trinidad and Tobago operations, revealed that the company is expediting the process, working through the capital value process and gr ...

BP (BP) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Over the past month, shares of this oil and gas company have returned -3.3%, compared to the Zacks S&P 500 composite's +2.5% change. During this period, the Zacks Oil and Gas - Integrated - International industry, which BP falls in, has lost 4%. The key question now is: What could be the stock's future direction?Although media rep ...

BP plc, (BP) the U.K.-headquartered energy major, has entered into a new global framework agreement with Australian engineering company Worley. The newly inked five-year deal is set to provide engineering, procurement, and construction management (EPCM) services covering BP's global refinery assets and ventures into new energy initiatives.According to Worley, the partnership will extend to strategic projects focused on green and blue hydrogen, lower-carbon fuels, and sustainable aviation fuels. The EPCM ser ...

The Red Sea is one of the most important shipping routes in the world, connecting Asia, Europe and Africa. It is also a key corridor for the oil industry, carrying about 12% of the global seaborne oil trade and 8% of the liquefied natural gas (LNG) trade. However, the Red Sea has become a hotspot of conflict and insecurity in recent months, as Yemen's Houthi rebels have escalated their attacks on commercial vessels in the area.Understanding the Houthis and Their MotivationsThe Houthis are a Shia rebel group ...

In the latest market close, BP (BP) reached $34.25, with a +1.18% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.22% for the day. At the same time, the Dow added 0.36%, and the tech-heavy Nasdaq gained 0.32%.The the stock of oil and gas company has fallen by 4.19% in the past month, leading the Oils-Energy sector's loss of 5.7% and undershooting the S&P 500's gain of 1.61%.The investment community will be paying close attention to the earnings performance ...

Fiserv says members of its uChoose program can now use card reward balances to buy gas.The new offering, announced by the payments FinTech Monday (Jan. 22), lets users purchase fuel at roughly 7,000 BP and Amoco stations.“Expanding our rewards redemption options to include uChoose Rewards gives our consumers different ways to save on their fuel purchases, and more reasons to choose our bp and Amoco brands,” Mukta Tandon, BP vice president, U.S. mobility marketing, said in a news release.“The ability to rede ...