KEY TAKEAWAYS BP announced plans to "fundamentally reset" its strategy Tuesday as Elliott Investment Management reportedly has taken a "significant" stake in the British oil giant.BP CEO Murray Auchincloss said the company plans to share a "new direction" during its Capital Markets Update on Feb.

Several BP Plc shareholders said they welcome activist Elliott Investment Management taking a stake in the British oil major because the company needs to make meaningful changes.

Elliott Investment Management is demanding BP Plc make drastic cost cuts and divestments to strengthen its future as a standalone company, people with knowledge of the matter said. The activist investor has asked BP to slash expenses in a range of areas to ...

BP (NYSE:BP) is considering a potential sale of its lubricants business in a deal that could fetch ~$10B, in one of the many options the company is considering to win back investor confidence after years of lagging performance,

BP PLC (BP) is reportedly considering selling its lubricants division, Castrol, amid growing pressure from activist investor Elliott Management

BP’s shares are on the up despite poor Q4 results, as shareholders look to activist investor Elliott Investment Management to change the oil major’s course

Will chief executive Murray Auchincloss be able to deliver a ‘fundamental change’ in strategy at key investor meeting to drive the growth he promised and turn around BP’s fortunes?

BP has a laundry list of problems. The $93 billion UK oil major has a confused strategy, an overleveraged balance sheet, and a valuation way adrift of its main rivals. Given it also now has an activist investor - Elliott Investment Management - with a 5% stake,

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