Very nebulous news from BP. CEO Bernard Looney quits his job "immediately". Will he flee to Russia (like many other high caliber refugees from the West lately)? https://finance.yahoo.com/news/bp-knew-bernard-looney-workplace-125724521.html " BP knew about Bernard Looney’s workplace relationships before chief executive appointment Jonathan Leake, Fri, September 15, 2023 at 2:57 PM GMT+2 BP was aware of Bernard Looney’s relationships with colleagues before he became chief executive in 2020, it has emerged. Board members quizzed Mr Looney about the relationships in the autumn of 2019 during the recruitment process that led to his appointment. Mr Looney, 53, was forced to resign this week after admitting he had misled the board about the extent of his relationships with colleagues. BP issued a statement saying Mr Looney had failed to fully disclose the extent of his relationships during an internal inquiry conducted in 2022. The investigation was opened following an anonymous complaint that was made internally. However, it has now emerged that Mr Looney was also quizzed about his workplace relationships in autumn 2019 during the recruitment process that led to his appointment. That process was led by Helge Lund, BP’s chairman. The revelation will raise new questions about the board’s judgment in appointing Mr Looney and about the company’s processes for appointing senior executives. Ann Francke, chief executive of the Chartered Management Institute, said: “Reports that BP’s board knew about these serious allegations before appointing Looney as CEO is a classic example of what goes wrong when companies prioritise technical competence at the expense of behaviour.” BP’s code of conduct does not forbid workplace relationships. However, it does state that relationships must be declared if there is any risk of a conflict of interest. [...] " What silly rules the Anglo-Saxons have... Screwing...
Just focus on trading. Don't bother about other people personal affairs. Because we are no saint. To be free from those relationship problem, one's pair of balls have to be removed
%% TYPICAL black gold\ TX tea \pattern=complex.I sedlom buy gasoline @BP, i might do that today\not a prediction. LOCAL BP is named ''Daisy Market -Liquor store'' Since i dump plenty of TRASH there LOL [plastic , oil based garbage bags................@ local BP ]have to buy gasoline some, not much. IBD ranks BP 14 in sector OUCH\EPS=15=terrible meaning 85% do better OUCH; good dividend. 50dma @$36.666 maybe support. Courtney said ''sorry '' a lot+ I liked the way she said that LOL XLE + FENY leaders dont have any or much of it =sorry
%% WELL\ in a perfect world =fine...................... BUT we live so far from perfect world ; have to study every thing. My banker dad got divorced, but he never had bad relationships@ bank; he was in bank management. I could date any single bank teller i wanted to, but not @ my dads bank; Speak for yourself, on concerning a saint\ you dont speak for me or my company. Good point $ on focus on trading; But CAN SLIM, [not a diet hint or green energy hint LOL] N = new product , new management. M = market direction He was the BP clown that tried to go super big in green energy\ green big failure thus the daisy shaped green + yellow sun BP logo==sorry, real sorry Thanks.....
if you trade BP...the story is very important. UK oil is not in a good place. Very similar to European Banks. UK oil big picture starting to look like poor revenues coming and losing market share and oil/drilling/exploration sources. If you short or buy puts...this story is very interesting over a bigger picture. Don't wait for prices to lead you and move ahead of you. Lead prices if you can.
%% WSJ has had some good colorful charts of earnings , exploration budgets of XOM, CVX, SHEL; [ BP]. No wonder the stock holders/fund managers have a much smaller position in BP. Too bad for BP their [bp] beyond petroleum ad campaign did so poorly