BP Investors Demand Proof More Oil, Gas Spending Boosts Returns

BP Plc needs to demonstrate how its decision to prioritize investment in oil and gas will create value for shareholders, according to a group of investors.

An alliance of funds that manages £191 billion ($260 billion) in assets filed a special resolution asking BP to show how it “promotes a disciplined approach to capital expenditure” and determines whether each new oil and gas project generates an acceptable return. The group includes UK and European pension funds and the Australasian Centre for Corporate Responsibility.