Here – maybe only for another two weeks – is how BP describes the progress of its current strategy: “Since we set out our strategy in 2020, our track record of delivery has given us increased confidence as we invest in BP’s transition and the energy transition,” boasts the website.
Even shareholders who supported the original 2020 vision to reduce oil and gas production by 40% can see that BP, at the current share price, is a sitting duck for a takeover if nothing changes.
Helge Lund, in the seat since the first day of 2019, is too closely tied to share price failure and BP’s inability to carry its investors with it.
Elliott doesn’t always hit the mark – its manifesto at GlaxoSmithKline in 2021 was pure waffle and its attempt to force energy firm SSE to split itself into two never gained traction – but it would be pushing at an open door at BP.
Helge Lund is too closely tied to share price failure and BP’s inability to carry its investors with it.
