15:46 - 10.02.2025

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February 10, Fineko/abc.az. The Elliott Hedge Management Fund has acquired a stake in bp, and intends to seek changes in the oil and gas company to increase its value.

ABC.AZ informs that The Wall Street Journal writes about this with reference to informed sources.

Elliott Wall-Street-in, which manages assets of almost $70 billion, is one of the most influential investors. Elliott's stake in bp is still unknown.

It is emphasized that in order to restore its position, the investor urges bp to take more radical steps than it has taken before.

bp's strategy has changed dramatically in recent years. Five years ago, it decided to focus more on low-carbon energy operations.

bp is one of the main participants in large oil and gas projects in Azerbaijan.