BP shares rise after reports, Elliott stolen in British oil

BP shares jumped in the open market after the weekend Reports An active investor Elliott Management has built a stake in stalled oil and could press the energy company to change the gears on its basic oil and gas business.

BP stock increased by 7.04 % at 8:57 am London time.

The company declined to comment on the reports, which do not determine the volume of the hedging box in Paul Singer. CNBC communicated with Elliott Management for comment.

The specialization of British oil, which is scheduled to reveal its results in the fourth quarter on Tuesday and its broader strategy on February 26, is behind its British peers and the United States, as the shares decreased during the past year-compared to the great gains of Shallal.

Last month, I released BP Commercial update Warning of the high costs of companies, the fourth quarter decreased by refining margins and one -time fee linked to its vital ethanol acquisition. It is also Searching for buyers In the assets of the German Ruhr Oel GmbH, in January, plans to reduce 4,700 roles are reduced amid the efforts of CEO Murray Usinglos to provide at least $ 2 billion of cash savings by the end of 2026.

This urgent news story is updated.