LATEST GEÓPOLITICAL INTEL: GEÓ Insights – Keep Up To Date with the Latest Geopolitics
- Elliott Management Urges BP to Cut Spending
Activist investor Elliott Management has declared a stake of over 5% in BP and has urged the company to boost cash flow via spending cuts. “Eight weeks ago, we announced a fundamentally reset strategy, and our focus now is on delivering that at pace,” spokesman David Nicholas told Bloomberg in a statement. “We welcome constructive feedback from all shareholders as we focus on delivering.” The activist investor’s free cash flow target for the supermajor is $20 billion annually by 2027, which is 40% above BP’s…
