BP to drop the commitment to cut the orizing and production of gas as the boss bots for the group survival

BP will leave their commitment to the boil and gas oil to the floor, as chief exceptive murrarail to persuade the Energy Major Energy.

AuchINCLOSS promised a “fundamental reset” and wins the performance the after-embarrass the United States fund had built a near the £ 72bn FTSE.

The Southern Derehishs and Members of the AUCHINCLOSS has seen the day of the week’s investment as the hardest test in 27-year of 27 Canadian 27 Bp Career.

AuchINCLOS has become a permanent 13 months ago after Boss Boss Bernard Liony was bag for a scandal over colleagues. Some BP board members, almost slowly, announcing the strategic change type needed to win the task of the board.

It’s been a moment “do or break” for the company, said Irene Hene, a Bernstein analyst. As the former financial of the bp of bp, auecincloss was too associated with existing strategy to quit right away.

Instead, pointed a will to produce another oil and gas and reduce passing in the other locations, but stopped sharp of animated. “Now he needs to write it because he went strata and the external world has changed”, he said.

Investor’s day was expected before BP has had the knowledge of Elliott of Elliott in the company but the arrival of activist has increased pressure on auchincloss to make radical changes.

Elliott is yet to comment publicly in their position. In calls with other bp activity, the activation was kept what the management would do, prefer contour problems rather than only prescriptive solutions.

“They were keenly kept, because they say, they are sowly surprisingly so ,. said a great bp choice that is ordered to elliott.” What we did was very good diagnosis. “

To other troubles, Elliith highlighting the raised volume-based volume-based volume and gas production and gas had distracted the value for static goals.

Under the transformation strategy in the USEY and AUCHINCOSS, BP barrel of cantre and the expected 20Chatable gafatts had by 2025 and 50gw by 2050.

In the 2023, I am not the fit markets of the FEERCY OF THE FEELE OF THE FEELEZE OF MADEGE TO 25 FORM FOR ITS to invest in “today’s energy system.”

AUCTINCLOSS U Wednesday will appear in addition to the target completely, said that two people familiar with the floor.

Hohona to Berntead said to UchinClisloss could go further and commit to converse oil and gas production from actual levels. Noticed exxonmobil, cherron and shell said they will keep increasing production. BP produces about 2,3mn barrels of oil equivalents to the day, falling from about 2.6mn b / d in 2019.

Elliott is also pushing bp to make the most important divides but they did not tell other investors that need to go, the repairs he / hedge said.

Since the deep horizon disaster in 2010 left with a $ 62.5bn billing, the company has always been intended by devices but if they are planted short of expected. This is expected to change the investor’s day with automncloss that prepared to announce at least one main coast, said a familiar person with the floor.

Analysts has maintained many options by buying sales the castol lubricants, part of their marketing and listing their spouse search.

BP could also hire the push of low-carbon units, as the SINCARTA BIP COMMENT or BIOENERY BIOFUNTS, analysis and liagezers’ Auchincloss last year to the bp wind

Elliott Build a game in the corner in 2024 as an emergent that the bhp rival had approached the UK group on a dam. In definitinate, Elliott has enough corner after the chair and headset distracted a pink strategy to preserve an independent indivity of the company, helping the BHP offer. Hedge fund wants to see something similar to BP, a familiar person with his thoughts told the financial times.

Elliott has met an EchinCloss and Helge Lundered Say, and is yet to lift the possibility of the person’s chances of securinary, said two familiar people with the commitment.

However, some members are looking for edge changes will be next in the Elliott’s agenda if the investor does not impress the familiar person with the thought of the advice said. That could include a push for a new chair, followed by a new executive main, the added person.

LUND has been chair of BP since 2019 and was instrumental in Deseeg Liony and developing its current strategy. After a prolonged response of the allegations failed failed to fully spot with the colleagues and stood by the strategy of the strategy after he was thrown.

When BP shipped his pledge to cut oil and gas in 2023, its actions have gathered more than 10 per cent in the following 48 hours. Some investors will be hopes that officially abandon all production cuttings will have a similar effect this week.

However, doing so probably requires bp to frustrate other shares to get off their plans to cut emissions. A group of investors wrote to the lund that the issues demanding teeth Get a vote in any changes that the water down their climate goals.

“Challe If they go from low carbon and have a little oil and gas, you would like that those tugs to be adjusted in false, said Bernoscony Hohona. “BP will not be in the same position to cut their emissions as to the current plan.”

BP and Elliott decreased to comment.