BP Faces Pressure Against Investment in Energy Transition

BP plc (BP) has been asked to shift its focus back to oil and gas production and reduce spending on the energy transition process. BP’s plans to allow oil and gas production to decline 25% by the end of this decade (compared with 2019 levels) was not well received by the London-based hedge fund Bluebell Capital Partners.According to Bluebell, the company’s shift from oil and gas production to renewable energy is a misguided move and is also the reason behind BP’s share price decline. BP’s shares are underva ...