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TEMPUS

It takes time to turn around oil giant

The Times

How far BP has come since the turn of the decade. Towards the end of 2010, the oil and gas group’s reputation for safety was in tatters (and its relations with the US administration strained, to say the least) after an explosion and oil spill at its Macondo well in the Gulf of Mexico cost the lives of 11 people.

Shareholders were questioning the future of its chief executive, the now-departed Tony Hayward, and raising awkward questions about the chairman of the time, Carl-Henric Svanberg. BP’s shares were touching 300p and investors fretted about the safety of its prized dividend.

https://www.investegate.co.uk/inmarsat-plc--isat-/rns/notice-of-results/201810021300016131C/ Four years later and BP was in the doldrums again as the oil price crashed from above $100 a barrel to a low of $30