BP Bosses Confronted By Environment Protesters Over Gulf Of Mexico Disaster

Posted: 12/04/2012 20:04 Updated: 12/04/2012 20:08   PA

Bp Bosses Protest
Clayton Thomas-Muller, the tar sands campaign director for the Indigenous Environmental Network in Canada, protests

BP's top bosses contended with screaming environmental protesters, a backlash on executive pay and more anger over the company's record in the Gulf of Mexico at an eventful annual meeting on Thursday.

A number of activists were carried from the ExCel centre in London after staging a bizarre demonstration against BP's attitude towards climate change.

BP's board was asked by an undercover protester if it had a "spaceship" to allow its members to escape environmental catastrophe before the man and several colleagues played dead on the floor and refused to move. No arrests were made.

Meanwhile, a shareholder said BP gave the impression the board had its "snout in the trough" by awarding chief executive Bob Dudley an annual bonus of 850,000 US dollars (£540,000).

The criticism was backed by a large number of investors as 11% of shareholder votes were against the company's remuneration report.

Before the meeting started, Derrick Evans, from Gulfport, in Mississippi, said BP's clean-up operation in the wake of the Gulf of Mexico disaster had been a "complete fiasco".

"The oil is not gone," he said outside the meeting. "The general perception is that BP made a mess and BP did a big clean-up and everything is all fine. Nothing could be further from the truth."

BP has so far paid around 22bn US dollars (£13.8bn) in clean-up costs and compensation and has also agreed a settlement expected to cost 7.8bn US dollars (£4.9bn) with lawyers representing 200,000 individuals and businesses claiming compensation following the Gulf of Mexico disaster.

Dudley told shareholders that BP's guiding principle on the clean-up was "not to do the minimum as required by law, but to do the right thing".

He added: "We have continued to devote people and resources to the area and we are seeing recovery. The beaches are open and 2011 was a great year for tourism. Independent studies have shown that Gulf seafood is safe to eat."

And defending the company's pay packages, chairman Carl-Henric Svanberg said BP "works to understand the mood and the society in which we are based".

BP also faced a protest from environmentalists opposed to the development of Canada's tar sands by BP as a major oil source.

Clayton Thomas-Muller, who is the tar sands campaign director for the Indigenous Environmental Network in Canada, urged shareholders to call for a withdrawal from the area in Alberta, Canada.

After protesting outside in front of banners reading "BP out of the tar sands" and "BP your party's over", Thomas-Muller addressed the board.

He asked what "contingency plans" the company had if it lost a legal challenge against its development.

Dudley said he believed the development of "oil sands" was "good for Canada" and explained that BP used a less-invasive procedure requiring steam to harness the oil from the sands in Alberta.

BP reported annual replacement cost profits of 23.9bn US dollars (£15.1bn) in 2011, compared with a loss of 4.6bn US dollars (£3.1bn) the previous year.

BP saw its shares rise sharply last month after a £4.9bn deal with 110,000 businesses and individuals over the Deepwater Horizon disaster.

The out-of-court settlement worth 7.9bn US dollars (£5bn) was less than expected - but it still faces a challenge from the US Department of Justice.

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07:33 AM on 04/13/2012
High prices for fuel or oil supplied by primary companies are caused by those companies. At each stage of the process profit has to be generated otherwise the operation will be shut down, subbed out or sold off, so... the drilling company must sell its services to the main business and make profit with a percentage going to the main business!, then the crude oil is sold to the main business at a profit with a percentage going to the main business, then the oil is refined and the refining company has to make a profit giving a percentage to the main business and the distributer, the wholesaler, the delivery company and the garage forecourt all do the same. So when an oil primary oil company like BP, Shell or ESSO say they only just about make a profit at the forecourt, it does not mention the flood of profits generated by the stages all the way down the line.
And then comes the fuel duty, which is then paid by US, the consumer, at the point after the oil company has already squeezed 25p profit per litre out of the final product.
What a business model!! Unfortunately it is one we all use, but with primary producers it should be made illegal, but it won't be!!
03:27 AM on 04/13/2012
Lol, sorry for laughing but didnt anyone of you not know that most things in the western world are corrupt,that includes the Elections everything is bent, from footbal,l cricket, snooker, horse and dog racing, athletics,etc etc,we live in a nice dictatorship, nothing will change, the rich will get very rich and the poor poorer, what that lots forget is they have to walk the streets at sometime or another, Ben Elton a jewish comedian put it something like this when the middle east had their problems, he said, "whats the good of being a millionaire in Tehran", he was right, spot on, these people should be very careful they dont upset the natives to much, the public will stand so much then the riots will start, and going into hiding abroad wont help them either, they think they are untouchable, this is a very fragile world at the moment, and an unhappy country like ours is now could soon flare up, most people in this country dont dislike politicians they hate them now after the expenses scandal and other things, my vote wont be going to any of the 3 major parties.
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Pietro Sommavilla
11:14 PM on 04/12/2012
"BP's board was asked by an undercover protester if it had a "spaceship" to allow its members to escape environmental catastrophe"

Escape with a spaceship... mmm ..antigravity technologies. :-))))
08:50 PM on 04/12/2012
Hear hear, i agree with the protesters, we have to pay through the nose for our petrol because of BP mistakes. even the shareholders are kicking up as well. Furthermore what makes BP more shady is their appointment a few years ago of the ex head of the mi6, what's all that about ..
02:09 AM on 04/13/2012
Mark Allen was never "head of the MI6" - in fact it was his failure to be appointed chief that triggered his resignation. He is a fluent Arabic-speaker, very familiar with the workings of the Arab mind and culture, very well-connected in the Arab world, and a highly-experienced negotiator with Arab leaders - in 2007, he helped broker the release of Bulgarian nurses imprisoned in Libya on trumped-up charges of having injected HIV virus into children. If you ran a business whose relationship with the Arab world is critical to its success, wouldn't you want someone like him on the board?

The cost of petrol is little or nothing to do with "BP mistakes". It is mainly the result of (1) high prices on the international market for ALL oil companies - caused by hugely greater global demand in a rapidly-developing world; (2) higher costs of extraction as easily-accessible oil reserves run down, and are replaced by more expensive production in climatically-challenging areas (eg Alaska), very expensive deep-sea drilling, etc; and (3) government taxation levels. The last is partly driven by a desire to slow down or reverse our huge increase in consumption, for both climate-change/environmental reasons, and in order to reduce our complete dependence on (and vulnerability to) the whims of foreign powers.