Activist investor Bluebell Capital Partners has called on BP to ditch its commitment to cut oil and gas output as well as other keys parts of its strategy to transform the company into a clean energy provider, Financial Times’ Tom Wilson reports. Bluebell wrote to BP chair Helge Lund in October shortly after acquiring a small stake in the London-listed energy major. In the letter, seen by the Financial Times, Bluebell said BP’s pledge to reduce oil and gas production by 25% by 2030 compared with 2019 levels meant it was destroying shareholder value by moving away from hydrocarbons faster than society.
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