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On Tuesday, market languages are talking about a potential fusion between Britain giant oil.
But how did we get to BP, a UK oil exploration company founded in 1909 under the name of Anglo-Persian oil, is now seen as a goal of taking its long-time opponents?
Restore
In 2020, under the guidance of the newly appointed Bernard Looney General Director, BP announced himself to embark on a remake strategy “Zero net network for 2050 or before” While increasing their investment in renewable energy projects. The giant giant made “while being carried out” when this new strategy is established.
At the time, Looney confessed that the turn would be a challenge, but he argued that he was “tremendous opportunity.”
Initial explosion
Looney launched the strategy as the Covid-19 pandemic was doing his way around the world, he turned the demand and raw prices. The giant energy has had a year-round loss in a decade, but the company continued its renovation, publishing 2021 million profits of $ 2021 million. Before triple $ 27.65 million in 2022, Ukrainian invasions like rising oil prices.
BP shares price.
Looney praised the results, saying Cnbc The company was bent in its strategy.
“We are announcing $ 8 billion more in the energy transition and up to 8 billion dollars to support the electricity of energy and gas in this decade.” He said.
The company’s energy transition has been more investment, BP 2023. The forecasts published in the edition Energy viewPrimary energy fossil fuel fee fell by about 80% in 2019 2050% low.
Looney goes away
BP left BP when he announced his resignation in September 2023, when he was less than four years, the company revealed “his previous notifications” was not entirely transparent “about relations about workplace relations.
Then, the main financial officer of Murray Auchincloss joined the temporary CEO before appointment in January 2024.
But the man who led the vision of BP as a renewable giant energy was outside the building.
Speculation mounts
Reducing annual profits in 2023, along with Looney’s departure, along with its continuous leadership in BP shares, raised new questions and future questions about the main petroleum strategy with its classmates. Shell, Chevron and Exxon Mobile have also been ignored as a potential BP teacher, and Emirates’s Adnoc has seen some of its active gases.
Investor Activist Elliott In February he built a stake in the main oil before revealing the auchincloss Strategic BP reset Intention to increase the investment of oil and gas and reduce the focus of renewables. Investors still need to surprise, 15% down 15%.
Talking to CNBC AprilAuchincloss said the company was becoming the target of taking. “We are a strong and independent company. Its peer, Shell Ceo Wael Sawan said, while CNBC said June “We have a very high bar” option M & A option, but he argued that the company continues to improve their shares.
Next
The strong decline of these reports seems to be dropped cold water on a potential offer of BP. Morningstar Senior Equity Analysta Allen Good at this point questioned the merits of a mask for BPA, CNBC said, “unless the rating is super attractive,” it would probably not be worth the headache for directors.
