Oil discovery in Gulf of Mexico bolsters BP amid discuss shareholders might vote to oust bosses from the board
BP’s embattled bosses received a much-needed boost yesterday thanks to an oil discovery in the Gulf of Mexico.
As chairman Helge Lund and chief executive Murray Auchincloss brace for a rebellion at its AGM on Thursday, the energy giant reported success at an exploration well 120 miles off the coast of Louisiana.
The discovery came ahead of what looks set to be a tough week for Lund and Auchincloss – speculation mounts that shareholders may vote against their re-election to the board.
Lund is stepping down next year, while Auchincloss’s future remains uncertain.
BP is under pressure from investors over an ill-fated and now-abandoned pivot towards green energy.
Respite: As chairman Helge Lund and chief exec Murray Auchincloss (pictured) brace for a rebellion, BP reported success at an exploration well off the coast of Louisiana
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