Bluebell Capital Partners, an activist hedge fund, has publicly urged BP to reverse its strategy aimed at reducing oil and gas output and transitioning towards clean energy. The investor is advocating for an increase in investments into hydrocarbons and a decrease in spending on renewable energy projects, challenging BP's commitment to becoming a clean energy provider. Despite the pressure from Bluebell, opinions suggest that BP is unlikely to deviate from its renewable energy trajectory. The activist's campaign adds to the challenges faced by BP's newly appointed CEO, David Auchincloss, who is being pushed to abandon the company's oil-output reduction target.
This "activist investor" pushing BP to double down on fossil fuels offers a perfect example of circular logic. "We're not going to cut back on fossil fuels, therefore we shouldn't cut back on fossil fuels." This type of shit is ubiquitous. https://t.co/hMpn6E3HDB
One activist investor is taking on BP, urging the oil giant to scale back green pledges https://t.co/AP5qjF6agY
BP Is Wrong to Set Oil-Output Reduction Target, Activist Investor Bluebell Says Oil demand is still there and BP should abandon target: Bivona Activist adds to pressure on newly appointed CEO Auchincloss #oott https://t.co/AIBlqQoO2Z
šļø 'BP is lost in net zero no-manās land. 'The oil giant must get off the fence ā or face the growing risk of a hostile takeover' | Writes @benjaminmarlow https://t.co/iF6m68awvy
BP's planned reduction in oil and gas output is wrong for shareholders and the company should abandon the target, according to activist investor Bluebell https://t.co/oBZcQ1b1fl
š“ BP attacked by investor over āirrationalā switch to clean energy https://t.co/pYdWZ7bXtI
Activist Investor Looks to Shake Up BP Strategy, Board #oott https://t.co/8YEwbEKOB7
Somehow we have gone from "we need green hydrogen in order to reduce carbon emissions" to "we need green hydrogen even if it increases carbon emissions." And by "somehow" I mean "wealthy industries grubbing for subsidies."
BP unlikely to swing away from renewables despite activist campaign https://t.co/vZFp3PJyCQ | opinion
literally a full circle on ESG: activists now want more hydrocarbons, fewer science projects BP faces activist investor pressure to ditch clean energy pledges https://t.co/MJkAthVviv
Hedge fund Bluebell Capital called on BP to boost investments into oil and gas and cut spending on clean energy https://t.co/TobN02LKuu
Activist investor Bluebell Capital Partners has called on BP to ditch its commitment to cut oil and gas output as well as other keys parts of its strategy to transform the company into a clean energy provider. #oott https://t.co/passQsTzCW