I've been hearing rumblings that BP and BPX are limping along and that they have been eyed for acquisition. They've lost their identity and their morale is super low. Does anyone have any insights? I'm hoping they stay right where they are. The last thing I want is for them to get acquired by the company I'm now working for. The BP/BPX machine is toxic.
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@6ecy+1sathXVE Excellent observations, Dimebag. There should have been a more extensive clearout of the leadership team than just LAR and AID finally going. That leadership team was put together by BL and they are lacklustre virtue signalling mo--ns. I would like to know what GC does all day for her salary.
The fact that ADNOC considered buying bp should be a wakeup call to the Board and Executive Leadership team. Get your s--t together and fix the issues or become sitting lame ducks. Best option is a merger with Equinor or Shell as alluded by some articles in the financial community. Both companies have the same woke mentality as bp and being European the UK government will be more agreeable. BP needs BPX for their reserves so they are pumping billions of dollars this year. However production from those wells decline quickly so wells have to constantly drilled to maintain production. They are banking on deep water GOM to increase their reserves but those developments have high lifting costs. We are not in a good place and the only sure thing to reduce cost is to reduce headcount. Moving technology, IT, engineering (you name it) to India where the average 10 year engineer makes $30K versus $150k (not including bonus and benefits) and multiple that on average by hundreds is significant. I see a cut of 30% over time in engineering.
Your comment is rife with inaccuracy and suggestive innuendo, which leads one to believe you are fishing for the thing that you don’t have….accurate information. Cheers.
They were being eyed up for acquisition by ADNOC in the past few months, but it came to nothing. Strangely enough, BL was in talks with ADNOC for a senior position, but that also came to nothing. You could say ADNOC dodged a bullet with that one.
Not gonna happen. The UK government would intervene and bp leadership is too proud to be acquired. They’d fight. The current CEO is an experienced Finance person. He knows how to ward off acquisition threats.
Why you want the company you are working for to get the BP/bpx "poison"?