Daily Archives: August 26, 2010

Masa Serdarevic

If you’re looking for yet more examples of BP’s slowness to grasp the sheer scale of the Deepwater Horizon disaster look no further than its chairman’s stock dealings following the explosion.

A full seven days after the accident,  Carl-Henric Svanberg bought about 175,000 BP shares, according to reports in the Swedish press on Thursday. Presumably to take advantage of their fall – to £6.19 from £6.55 on April 20, the day of the explosion.

He also bought about 750,000 BP shares at £5.75 in February, a month after taking the top job at the company.

The shares have now rebounded from their crisis-lows… to, erm, £3.86.

Fortunately, according to an online biography, Mr Svanberg “was always drawn to a challenge and to doing things that seemed hard”.

So he should be really drawn to the challenge of getting BP’s share price back to pre-explosion levels.

Masa Serdarevic

Elsewhere this Thursday:

- From climate science to climate activism – the sequel

- As sales fall, is the hybrid car fad over?

- Electricity crisis hits Venezuelan oil exports

- Cuba looks to cooperate on offshore safety

- The key players of the Deepwater Horizon

Masa Serdarevic

- BHP results underline financial strength – FT

- Big sporting events power up Aggreko – FT

- US spill panel question drilling policy – Reuters

- Diversification linchpin of BHP’s Potash plan – FT

- Missing piece in oil rig inquiry: Who was in charge? – NYT

- Dubai November oil prices at 20 cent discount to Oman’s – Bloomberg

- Tullow deal with Heritage meets fresh snag – FT

- India’s nuclear liability plans under fire - FT

- Report faults utility and contractor in fatal fire – WSJ

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