https://www.thisismoney.co.uk/money/markets/article-14400649/Pressure-BP-merge-Shell-creating-national-oil-giant.html
The sharks are circling y’all. MA and HL waited too long to reset our strategy. I’m both excited for something to change and scared of what it means for my job.
we don’t want anything of BPs at shell
BP returns 3% a share but pays out 5% a share on dividends and is riddled with debt
the portfolio contains stuff in regions which we barely finished divesting from.
that activist investor who is about clean your clocks is probably behind the merger rumors. a shell merger is all
upside for you. yall should just speed up your slow decline so you can move on
BP now officially uses GOA and yes. This is now tracking towards these assets being pulled back to the US companies. Bye bye.
What a funny thread.. I will keep coming back if I need a chuckle...
Paranoia has firmly set in.. relax GOM is a core profit center.. GOA is a lovely beach resort area in India... Not far from Pune.. which is where the GOM jobs will be outsourced to with time...
XOM is done the GOM - the nationalization posts are absurd enough on their own but assuming XOM wants anything to do with that basin is next level wrongheaded. Not even if Trump handed DW the keys to TH gratis.
Shell people: we don't want you, thanks!
@vg+1jm809a5s How many times in bP's history have assets been nationalized? Quite a few
That’s what I’m saying yes. It is a definite possibility. If the uk angers trump this is an option, if there is a merger it’s 100% certain as their position would be monopolistic in GOA. It could potentially begin with two things. US gov stops issuing permits to bp and shell which is 100% in their gift or they simple remove the companies right to operate.
Are you suggesting the US federal government would seize foreign-owned property and essentially give it to a U.S. owned company? That would be actually insane - like a country seizing private assets and nationalizing them. And there are issues with that since I “think” bp’s US operations are actually incorporated in the US. I don’t see that happening.
Even without a merger there is a likelihood that shell and BPs assets in GOA will be repatriated under DJT. Federal waters, energy emergency declared. Cvx has shadowed mad dog and Atlantis for years. Exxon would easily step in and run thunderhorse. The mars corridor would be divided up between them. If the British prime minister does not bow down then this will 100% happen
This merger finally makes perfect sense. Virtually everyone in bp will be let go as the synergy opportunity is vast. In the gulf of America the combined entity will be forced to sell off some of the assets to either Cvx or EM. This is a great outcome.
@h2+1jm809a5s ??? Where have you been? He made it very clear that he was keeping the same strategy, pursuing the “integrated energy company” vision set by BL. There are multiple reports of him reaffirming the current strategy. Albeit a terrible plan, but he was very clear.
@fr+1jm809a5s The point is even if you have the same /similar strategy you don’t wait a year+ to clarify your strategy. It’s CEO 101 basics, markets don’t like uncertainty..
MA was hired by the board to continue the promise made to the market and he was the path of least resistance. It would have been counterintuitive in his pursuit to keep his role, to do a strategy different than the one he likely presented during his interviewing process
Still on MA that he didn’t clean house. He could have said to the board when taking the role that the markets didn’t like our strategy and the LT were complicit in what went on before. A more aggressive reset is what the market expected and he didn’t deliver, which is why the sharks are circling.
Browney is a renewables clown among other gross things.
All this means is more Layoffs. Awful.
It's not all on MA. The board members is his boss so they had a lot of say into him being able to clean house. They wanted to market to think that we were steady. HL was looking like a tool when he didn't have a succession plan for Looney Tunes. The board is to blame and none of them have oil and gas experience except the lady from Chevron.
@cq+1jm809a5s MA wouldn't have cleaned up because him and BL worked together very closely, so MA would have been part of BL's decision making. The company should have appointed someone from outside when they had the chance.
I was amazed that MA didn’t clean house when he got the job. How he could possibly continue with the same LT who got us into this mess, the same strategy that clearly wasn’t working and a team who were presumably complicit in BL’s extra curricular activities was mindblowing. No wonder he is finding that he’s rapidly running out of road.
Respectfully, I don’t care what JB thinks. His tainted legacy set us up to fail for the past 20+ years.
John Browne will certainly find that to be good news since he had wanted a merger between bp and Shell. We'll have to wait until the 26th to find out anything for certain. Hang in there.
Wouldn’t be too hard. Divest retail, G&LCE, Castrol and bpX. Consolidate trading. And layoff redundant executives.
BP 88k employees plus Shell 80k employees = 108k layoffs to get to EM size of 60k. This will be fun to watch
The redundancy layoffs that would result from that merger would be astronomical. People don’t realize what they’re cheering for.
@a3+1jm809a5s
Agree! The entire bp LT should be sh**canned.
A lot of the blame has to go on the clown who gets a huge remuneration package to be in charge of strategy on the LT.