bp was unsustainable and rudderless for the last 6 years! Statement
How will an outsider with Exxon and Woodside pedigree affect, alter, and improve bp?
Which executive VP’s are polishing off their resumes?
What assets will be divested?
Rumors that the Mumbai joint offshore development project maybe axed
14 replies (most recent on top)
@jz yes
Since bp bought Arachaea, cost of development have gone through the roof. A plant that was built for $30 MM previously now cost almost 4X. They need to fire Fake Tan Face Boy (RM)
In addition to Archaea, I’m pretty surprised lightsource is still around. Can’t they find buyers for that business?
@k8 you think it’s financially smart to pay $4B for a running company that checks notes might make money in 2036, if we pump another $4B into it to develop it? And that’s only if the us govt keeps subsidizing it?? Everyone involved in that deal should be canned and investigated.
6 years? more like 20.
Archaea is delivering value as it is brought to scale. These things take time.
Oooooh if they sold Archaea do you think they would save SS?
@js as opposed to doing the same thing, but constantly adding money to the fire? It’s a sunk cost at this point, recover what you can and ditch it.
if they sell archea it will show that they simply cluld have gone to the pub and lit a pile of money on fire instead.
Archaea is most likely gone.
They should find all EVPs and SVPs that were part of groups developing the cluster re-org in 2021 and get rid of all of them. Any id--t that designed and signed off on that should be fired without question.
I’m guessing the two upstream EVPs will be cut down to one. HR functions will no longer have an EVP. Some of the P&C SVPs may not be needed anymore.
@by , we can only hope! I’ll take a little more churn in the org if that means getting rid of the “yes (wo)men” who enabled the previous disastrous strategy and yet retained their jobs.
I’d love to see some accountability at the top bc if the rank and file performed like “leadership” did we would be out on our as--s!
They clearly brought her in because they want change. I expect many (perhaps most) EVPs to be cut. Likely same for SVPs whose groups haven’t been delivering. I suspect she’ll have a bias for subsurface leadership since that’s her expertise. I expect ruthless prioritization and marketing any groups that are underperforming.