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BP under pressure at AGM

Thursday, April 12, 2012 - 02:05

April 12 - Shareholders quizzed BP bosses over the oil giants future prospects in the wake of 2010's Gulf of Mexico disaster. Sarah Mills reports.

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Frustrated protesters at BP's annual general meeting made sure the Gulf of Mexico oil spill was not forgotten. The oil giant is attempting to put 2010's disaster behind it. But Derrick Evans from a Gulf Coast campaign group made a passionate speech outside the meeting. He called the clean up operation a fiasco. SOUNDBITE (English) DERRICK EVANS, SAYING: "Frankly if BP would exert the same degree of energy towards cleaning up it's oil as they clearly have successfully put into a global spin about the clean up being successful it would bode well for everyone involved." BP's share price has yet to recover from the effects of the United States worst offshore oil spill - and they are likely to face tough questions from investors concerned about its turnaround prospects and unhappy with how they are rewarding their execs. SOUNDBITE (English) TAR SANDS CAMPAIGN DIRECTOR, CLAYTON THOMAS-MULLER, SAYING: "We just see the on going payouts of these individuals that are there to make horrific decisions and they get paid well for it." Chief Exec Bob Dudley was appointed in the wake of the gulf crisis and has overseen the clean-up operation. As the AGM was broadcast live online, he thanked investors for sticking with BP: SOUNDBITE (English) BOB DUDLEY, SAYING: " It has been a challenging period, we continue to apply the lessons from the Deep Water Horizon accident and we continue to make BP fit for the future strong enough to grasp the new opportunities we face and wise enough to manage the risk that brings with them" But while the meeting was taking place, share prices dipped over fears of another possible oil spill in the Gulf of Mexico. Clearly an emotive subject for BP's investors. And one which Dudley hopes will fade quick enough to end questions about his reported 6.8 million dollar payout. Sarah Mills, Reuters

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BP under pressure at AGM

Thursday, April 12, 2012 - 02:05