After a strategy reset, where next for the BP share price?
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There’s never a dull moment over at BP (LSE: BP.) these days. With the valuation gap between itself and the other oil supermajors having grown into a chasm, and an activist investor, Elliott Management, pushing for a radical overhaul, the business desperately needed to do something to arrest the share price blues. Enter stage right a strategy reset. But the million dollar question: will it work?
Black gold
The centrepiece of its strategy is an 18% boost to investment in oil and gas production. $30bn over the next three years. 70% will be earmarked to oil, the rest to gas.
During its full-year results presentation in early February, it laid out 10 major projects that had been given…
