BP Faces Pressure to Abandon Oil and Gas Output

Activist investor Bluebell Capital Partners is pressuring BP to abandon its commitment to reducing oil and gas output, urging the company to reduce investments in bioenergy, renewables, and hydrogen. This comes amidst BP's former CEO's plans to reduce oil and gas production being revised due to the Ukraine war disruption. BP's stock has underperformed larger peers like ExxonMobil, Chevron, and TotalEnergies, with the former CEO resigning following disclosures of personal relationships.