BP Plc BP
The three reasons
- 1
Renewables strategy is a series of U-turns with no consistency
- 2
BP implicitly downgraded 2025 EBITDA guidance by ~12% to ~$40-43bn
- 3
BP TSR only 10% since Looney vs. 55-128% for Shell/Chevron/Total/Exxon
Primary demands
- Remove Chairman Helge Lund from the Board
- Remove Lead Independent Director Dame Amanda Blanc
- Present an updated strategic plan to investors immediately, ideally at Q3 results rather than waiting until February 2025
- Provide a clear bridge explaining the implicit 2025 EBITDA guidance downgrade
- Explain Lightsource BP's plans to build solar farms above the 50MW approval threshold
KPIs cited
Pattern membership
Where this document fits across the library's 12 rhetorical / structural patterns.
Notable slides (6)
Notes
Open letter dated 25 Sep 2024 from Bluebell Capital Partners (Giuseppe Bivona, Marco Tariceo) to BP Board demanding removal of Chairman Helge Lund and Lead Independent Director Amanda Blanc. Follow-up to prior 23 Jul 2024 letter. Core rhetorical move: catalogue of U-turns (7 numbered items) on renewables strategy since 2020, capped by Q2 2024 implicit guidance cut. Uses direct quotes from BP press releases on Dotzenrath hire and Equinor JV to expose broken promises. Embeds HSBC research extract as third-party validation of the ~12% implicit EBITDA downgrade to c.$40-43bn. Includes pointed legal language ('unlawful' Burnhope solar farm, Code of Ethics citation) hinting at regulatory/governance angle. Peer TSR and EPS-change bar charts are the visual centerpiece, with pale-blue BP bar isolated against dark-blue peers - classic peer-shaming viz. Also raises specific concern that Lightsource BP may be circumventing the 50MW Planning threshold by lobbying to raise it to 150MW.