BP Bob Dudley was accused by an analyst of the implementation of a strategy of "business as usual". Photograph: Toby Melville /ReutersBP has raked in profits of over ￡ endowed in the past three months, just a year later near the terminal Deepwater Horizon disaster - but faces renewed demands for their break-up of certain sectors of the city.
Oil group reported a $5 benefits took (2,400 ￡ 3) as the rise in crude oil prices you allowed to put an end to the loss of. 1bn of $17 from the same period of last year, when an explosion on the platform operated by BP in the Gulf of Mexico resulted in the accidental the world's largest offshore oil spill.
Drivers organizations expressed outrage for the great benefit obtained a price of oil has an average of more than $100 per barrel and pushed the price of gasoline to almost 140 pence per litre. Stephen Glaister, director of the RAC Foundation, said: "increase the benefits of BP please shareholders but do nothing for drivers that ultimately the funds through the increase of fuel prices".
He added: "this will do nothing to stem calls for bodies such as the Fédération Nationale d'Automobile, representing 35 m controllers, to the authorities of competition, transparency in the crude oil and oil products prices."
However, shares in BP fell 2.6% to p 463.25 as analysts pressed for more details on the Group's strategy and expressed his disappointment with numbers that fell below expectations.
While BP has focused on the cleaning of the damage to the environment and your corporate image by the accident of deep water, investors noted strategic changes by rivals that have pushed their own shareholders returns.
Bob Dudley, Executive Director of BP, could not use the radical proposals such as the separation of the operations of the "upstream" group: production and exploration of gas and oil, from its "downstream" activities, such as refining and petrol stations. However, Dudley refused to rule out unroll the great is better, "supermajor" strategy carried out by Lord Browne, BP chief until 2007.
"Well, we're not rule in or out." What we often do is often review our portfolio and consider all the options, "said Dudley." "Now our priorities in 2011 should further stabilise the company and reduce the uncertainties of the environment we are in." It is our highest priority. "Strategy-wise, has been very active in the last year and will remain so".
This week's HSBC analysts estimate that BP had lost $77bn in value compared to their European peers from the spill in the Gulf.
Dudley added: "we certainly are not patients within the company." We feel a great sense of urgency about where is our price and think that the value of the company. "Thus, shareholders, I believe are also impatient".
This discomfort about the strategic direction became more acute by the failure this year of an Alliance proposal with Rosneft, the Russian State oil group.
In a note yesterday it was titled "Strategy, what strategy?" Arbuthnot Securities said that BP had done nothing following strategic changes by rivals such as ExxonMobil, Shell and ConocoPhillips, which has won plaudits in recent years to announce a wave of sales of assets that have helped to finance higher dividends.
"BP seems to be running a strategy of" business as usual "and we are not convinced that the market is ready with this much longer," said analyst Arbuthnot Dougie Youngson.
Options include selling of us assets of BP North Sea in order to focus on emerging markets such as Brazil, India and Russia. Another is to take the money from its Russian TNK-BP joint venture, possibly through a commercial market.
BP has taken a loan of $40bn in its Deepwater Horizon books, including a compensation fund of $20 billion, which has been paid so far. 8bn $6. American operations chief Lamar McKay, BP said it had delayed the pace of payments of compensation claims, suggesting that the phenomenon-of "spillionaire" a phrase coined for those who have exercised more false claims after the disaster: can be coming to an end.
"Claims volume has declined," McKay said. "We are moving response in recovery now." The indications of the tourism and seafood are buenas.?
A decrease in the production of oil and gas from the entire group also contributed to the negative reaction from stockmarket, with Deepwater again a key role. Production fell 11% to 3.4 million barrels of oil per day, in the midst of a moratorium on the U.S. Government on new drilling in the Gulf and the sale of oil fields to pay for the compensation fund.
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