BP plc · BP
9 decks published between 2023-10-04 and 2024-10-21 — 163 pages, 163 analysed slides total.
Timeline
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2023-10-04 initial thesis
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30pp · letterBP trades at a 44% discount to US majors because Looney's pivot away from oil & gas destroys value; reverse the strategy, return capital, and unlock 50%+ upside.
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2024-04-18 follow up
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43pp · letterBP's pledge to 'enhance lives' and protect biodiversity is exposed as hollow after a UK court quashed Lightsource BP's Burnhope solar farm for covertly oversizing the project.
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2024-05-01 follow up
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49pp · letterBP under Lund and Looney's failed energy-transition strategy has produced sector-worst TSR, a record valuation discount, and governance failures — the board must engage with dissenting shareholders.
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2024-05-07 response
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1pp · response_filing -
2024-05-13 follow up
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2pp · letterBluebell escalates to BP's Senior Independent Director, arguing that Dame Amanda Blanc's refusal to meet breaches her governance duty and undermines her independence.
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2024-07-23 follow up
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20pp · letterBP's Board greenlit an unlawful solar-planning strategy and a value-destroying green pivot; replace the Chair, Senior Independent Director and CEO, or halt the renewables burn.
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2024-09-25 follow up
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9pp · letterBP's 2020 energy-transition strategy is collapsing in serial U-turns and missed targets; removing Chairman Helge Lund and Lead Independent Director Amanda Blanc is essential to restore accountability.
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2024-10-07 follow up
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4pp · letterBP's ideologically driven 2023 strategy has failed; the Chair and Lead Independent Director must go, and the leaked U-turn on oil output breaches listing rules.
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2024-10-21 follow up
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5pp · letterBluebell publishes ten pointed questions BP must answer at the 29 Oct 2024 Q3 call, demanding transparency on abandoned EBITDA, production and energy-transition targets and faulting Board oversight.