BP activist investor sees signs of oil-strategy shift

BP is under increasing pressure from some shareholders to raise its profitability and narrow the valuation gap with more oil-focused US rivals. — Bloomberg

London: BP Plc is showing signs of a pivot back toward oil and gas that should boost returns, but is doing it too quietly to benefit its share price, according to activist investor Bluebell Capital Partners.

Four years into its plan to shift away from fossil fuels, BP is under increasing pressure from some shareholders to raise its profitability and narrow the valuation gap with more oil-focused US rivals.