British Oil Major Bp logo.
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For weeks, market languages waive according to potential merging between Britain’s oil giants – as long as it ends weeks of speculation, on Thursday, he denied reports that in talks to contract for the procurement of BP.
But as we reached the point that BP, the oil research company was founded in 1909. years named Anglo-Persian oil company, is now seen as a possible takeover goal for its long time rival?
Reset
Back 2020. year, under the guidance of the newly appointed Executive Director, Bernard Looney, BP announced that he would take a strategy to rememo itself as “Net-zero company by 2050. Years or before” While hosting its investment in renewable sources of energy projects. The energy gigan is dedicated to “performing as it transforms” while this new strategy was asked.
At that time, Looney admitted that the shift would be a challenge, but he claims it “and a huge opportunity”.
Beginning Rafal
Looney presented the strategy just like Savid-19 pandemic started around the world, she launched a shock of demand and short raw prices. In the decade, the energy giant published its first year, but the company continued its audits in 2021. In the amount of 7.6 billion dollars in 2022. Year, because the Russian invasion sent to Ukraine in Ukraine in Ukraine.
Looney praised the results, saying CNBC The firm was now relied in its strategy.
“We are announcing up to $ 8 billion more investment in energy transition this decade and more up to $ 8 billion in oil and gas in favor of energy security and energy accessibility this decade,” he said.
This has increased investment in transition about energy-reinforced companies, published in 2023. BP release Energy prospectsThat the share of fossil fuels in primary energy fall from about 80% in 2019. to 20% in 2050. years.
Looney leaves
BP remained wound when Bernard Looney suddenly announced the resignation in September 2023. years, and the company has been “fully transparent in its previous disclosures” on the workplace relations before becoming the General Manager.
At that time, the main financial director of Murray Auchincloss entered the interim director before he was placed on the permanent basis in January 2024. years.
But the man who drove the Vision of BP as a renewable energy giant was now outside the building.
Speculation Brackets
Rejecting the annual profit in 2023. and 2024, together with Looney’s departure and the constant basis in BP shares, compared to his peers, sets fresh issues about the Major Major Strategy and its future as an independent company as an independent company. Next to the shell, Chevron and Exxon Mobil also retreated as potential laws for BP, while Emirating Adnoc allegedly apparently cited some gas property.
Activist investor Elliott As reported, built a share in Major Oil in February, just before Auchincloss discovered BP’s strategic reset It is set to increase investment in oil and gas and reduce focus on renewable sources and means. Investors have yet to be impressed, and shares 15% since then.
Speaking with CNBC in AprilAuchincloss baked the concern that the company became targeted, saying “We are a strong, independent company. His peers, Sheo Vael Savan, meanwhile, said CNBC June It “We have a very tall bar” for M & A features, but claimed that the company still favors the purchase of own actions.
What is next
It seems that the robust refusal of the shells about these reports, for now threw cold water to a potential download offer for BP. Morningstar High Analyst Allen Goodly questioned the basis of dealing with BP shells at this time, which CNBC said that “unless the assessment would be worth the headache for managers.
