By Anusha Sakoy
(Reuters) -Sugary investor Elliot investment explained to manage a stake in the main oil company BP, a source familiar with Reuters said on Saturday.
The source did not provide the size of the session.
The United States -based Elliot is seeking to enhance the value of shareholders by urging BP to consider transformative measures.
Elliot and BP refused to comment.
Bloomberg stated that the active investor believes that BP is emerging with less than its value. The market value of the BP company is about 69 billion pounds (85.62 billion dollars), less than half of the shelling value of competition of about 161 billion pounds, according to LSEG data.
Earlier this week, BP said it is planning to sell a refining site in Germany, where the company president continues plans to reduce the company’s costs at at least $ 2 billion by the end of 2026.
BP Murray Auchincloss CEO is to rebuild the company’s investor confidence. In January, the company said it would reduce more than 5 % of the global workforce.
Auchincloss also seeks to restore confidence after the sudden departure of his predecessor Bernard Loni in September 2023.
Auchincloss, who took office a year ago, will put his new strategy on an investor on February 26. He has already taken great steps to reflect his predecessor’s strategy of turning from oil and gas.
The British oil producer has warned that the decrease in the refining of margins and the impact of the transformation and maintenance activity will lead to a decrease of 300 million dollars in a quarter of a quarter of profit.
Other global refining refineries in January presented little optimism in an improvement in a semi -passage of profit after a shrinkage in the margins about fuel production.
BP reports results the fourth and entire year on February 11.
Elliott has become one of the most influential investors with about $ 70 billion of assets, after recently pushed to disintegrate in Haniole. The fund also built a 3.2 % stake in Anglo American after the London listed miners became the goal of acquisition by the BHP group is the biggest competition.
($ 1 = 0.8059 pounds)
(Participated in the report on Anosa Sakoy and Jormer Core, edited by Timothy, the heritage of Kraft)