BP Plc, in which activist investor Elliott Investment Management has built up a nearly 5% stake, is considering a potential sale of its lubricants business, according to people familiar with the matter.

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.

On this episode of In the City, we discuss what set the stage for Elliott Investment Management’s interest in the embattled oil giant.

Elliott Investment Management expected to use its influence to force supermajor to move away from low-profit renewables

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,

Activist hedge fund Elliott Management has built a stake of nearly 5% in BP (BP), becoming the oil major’s third-largest shareholder, as it

Activist hedge fund Elliott Management has become BP’s third-largest shareholder after building a near-5 per cent stake worth almost £3.8bn, as it seeks to force the troubled UK oil major to cut spending on renewables and make big divestments,

Activist investor Elliott Management has built a nearly 5% stake in BP and is pushing for major asset sales and strategic changes at the oil and gas giant.

The Financial Times reported that Elliott Management, an activist investor, has revealed a nearly 5% stake in BP. This makes it

BP Plc’s crucial strategy reset, which included a pivot back to oil and promises to sell assets, appeared to win few plaudits from investors as shares erased their recent gains. Most Read from BloombergThe Trump Administration Takes Aim at Transportation ResearchNYC’s Congestion Pricing Pulls In $48.