Hedge Foundation Elliott converts heat in BP with demand for deep spending cuts

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ELLIOTT management presses the BP button to increase BP more than 40 percent to increase the free money flow between the operating part of the investor’s energy group and increasing the company’s criticism.

The US-Based Hedge Foundation reported Bp In February, the “Fundamental Reset” provided by the CEO of the Oil and Gas Group Murray Auchincloss, provides an alternative plan for people who are familiar with discussions and provide an alternative plan.

Elliott By 2027, BP calls on the increase in oil and gas business by 2027 to 2027 by 2027. This represents 40 percent in February, compared to the free cash flow, which is far from BP’s renewable energy and the $ 8 billion free money flow last year last year.

“Murray took 18 months to meet a plan not ambitious nor an urgent plan,” said Elliott a man familiar with the thinking. “Time is exhausted here, not by the macroeconomic environment and an investor patience, not on the side of BP. The continuous BP is open to capture it.”

BP, Elliott on Tuesday, increased its shareholder about £ 5, and the company is close to Vanguard with the second largest investor. BP shares lowered the market value to £ 57 billion and declared a new strategy for about 18 percent.

The Hedge Foundation, if it can be more disciplined in the expenditure of BP, if it is reduced to $ 12 billion for $ 12 billion in $ 12 billion, the company said. Elliott also thinks that BP can save $ 5 billion outside the current goal.

This activist In addition, BP sells the forces of the sun and sea wind, and future oil reserves are enough, because future oil reserves are sufficient, because it is enough to reduce its spending in oil and gas business. “At oil and gas, it is preparing to discipline to follow the growth and investing.”

Elliott complained that the management did not accept the roots of the company’s roots, which goes beyond Strategic Pivot away from renewable energyThe people said.

“The diagnosis of the leadership was everything about Vibes and the atmosphere. The diagnosis of Elliott has been in the past few years. They added that in the past few years. They added that this should be more and more changes in the planned departure of the chairs of BP.

A quarter of BP shareholders Voted against Lunt’s re-election Last week, the company’s annual meeting, reflection of investors in investor frustration.

Samples of weak capital discipline in BP, when the Senegalism is withdrawn from the Joint Venture of Torture and the United States, Devon’s energy was spent on high costs quoted. BP’s $ 4 billion biogas business said that excessive expenditures are risky regardless of the federal tax loans and uncertain market prospects.

BP and Elliott refused to comment.