Review: Explosions hide reality in BP spill movie

September 30, 2016

Peter Berg's blockbuster turns the complex Deepwater Horizon disaster into a simple fight between working-class U.S. heroes and a money-grubbing British company. The rig crew's actions surely saved lives. But the film obscures the challenges of oil extraction and lax regulation.

Singapore, Saudi put corporate do-gooders on spot

June 9, 2016

Banks covet business in Saudi Arabia despite its poor human rights. They can say it’s the direction of travel that counts. Singapore, which just told groups like Goldman Sachs to stop backing a gay and lesbian event, is going backwards. It puts corporate sincerity to the test.

BP’s $20 mln Dudley payout looks crass but isn’t

April 14, 2016

The oil major faces an uproar over Chief Executive Bob Dudley’s bumper remuneration package despite the company slashing jobs and recording losses last year. But the criticism may be unfair. Dudley has hit key targets and drawn a line under the Gulf of Mexico disaster.

The British Museum should ask for more from BP

April 7, 2016

Climate change activists are protesting against the London institution’s sponsorship from the oil group. For the museum, the cost of accepting patronage has risen. More to the point, BP pays less of its annual pre-tax profit in charitable giving than FTSE 100 peers on average.

The Exchange podcast: Lord Browne of L1 Energy

By Rob Cox
March 24, 2016

The former BP chief swings by Times Square to discuss his new book on how companies can radically engage with the wider world and become more inclusive to the benefit of owners. He also talks about the potential for M&A in the energy business, the oil market and Brexit.

Edward Hadas: VW, like BP, took the wrong chances

October 14, 2015

Studies of the oil company’s disasters showed a willingness to cut corners on safety. The carmaker’s deceit has not yet been thoroughly dissected, but its approach to regulation may have been similarly careless. Companies have to choose what matters. Bad choices can prove costly.

Commodity producer/trader boundary starts to blur

October 14, 2014

Glencore’s interest in a deal with Rio Tinto was about more than corporate ambition. Commodity traders are keen to buy hard assets to secure supply, while producers view logistics and marketing as a way of boosting returns. Expect more convergence, and shrinking trading margins.

BP has yet to deliver its positive Macondo legacy

April 2, 2012

The Gulf of Mexico disaster prompted soul-searching and a wide-ranging review of BP’s sprawling portfolio. The pledge was to divest low-return assets and focus on its core competence in exploration. But two years on and it’s clear the strategic renewal is proving a long slog.

BP’s Russian exit would lead to existential limbo

June 6, 2012

The UK oil major could turn grief into $20-$30 bln of cash if a deal materialises from the approaches for its half of the TNK-BP joint venture. But BP would then need to find new growth assets. And that could mean other difficult partners in challenging jurisdictions.

BP’s path to Macondo settlement just got harder

September 6, 2012

U.S. lawyers say they’ve got emails showing gross negligence in the 2010 oil spill disaster. There’s still scope to settle before a trial, but the aggressive tack complicates BP’s effort to get a favourable deal. The market reaction - wiping $5 bln off BP’s value - looks right.