Not seen viable by our closest peers. Yet we’re throwing masses of money at it.
4 replies (most recent on top)
Low morale in ofw these days - constant external hiring, out of touch management, lack of inclusiveness and lack of direction. Stay clear from this part of bp for now.
Offshore wind is a low margin utility business 8% return max. Now with inflation, it’s probably in the negative. What waste of investment
BP’s share price is in valuation he-l because the company has confused everyone including itself. It pursued higher valuation multiples when green energy was in vogue and gave up margins from is legacy business. Now, the market has pivoted and BP is lost and lagging yet again. How on earth are the execs still employed. It’s comical. They changed the culture of the company during “reinvent” and it will take a decade to go back. Pathetic. Plus, they don’t appreciate their pensioners which is crazy. Bernard has lost more money than the GDP of most 3rd work countries. A fear only accomplished by select few. I feel bad for the female staff required to back into the office. They are not safe from his wondering eyes.
Not only that, but as per today's earnings call, we're attempting to renegotiate the PPA for the East coast windfarm stuff that we're JV with Equinor. Supply chain inflation is just pillaging the already meager returns.