BP's Hunger Games! Will Shareholders Revolt Against Green Strategy U-Turn?

May the Odds Be Ever in Their Favor... Or Not?

Well isn't this just like the Hunger Games but instead of fighting for survival it's about fighting over oil and gas! BP the folks who brought you… well oil are in a bit of a pickle. Seems like they've decided to backtrack on their whole 'saving the planet' thing and are now doubling down on the stuff that makes the world go boom… literally. And some shareholders are not too thrilled which as someone who understands the perils of being used as a pawn I sympathize.

The Identity Crisis: Oil Baron or Eco Warrior?

BP's been having a bit of an identity crisis haven't they? One minute they're planting trees the next they're drilling for more black gold. It's like Peeta trying to decide whether he's team bread or team camouflage. They promised to slash renewable spending and ramp up the oil and gas biz. Apparently this bold strategy attracted 'significant interest' in their non core assets which in Capitol speak probably means they're trying to sell off the stuff that doesn't make them as much money. If I had a penny for every time a corporation made promises they couldn't keep…

Rebellion in the Ranks: Dissent is Brewing

Legal & General a big shot shareholder is leading the charge saying they're gonna vote against BP Chair Helge Lund's reelection. They're not happy about the strategy changes and the fact that BP didn't let them vote on the new direction. Sounds like someone's been taking lessons from President Snow on how to run a dictatorship. Others like Robeco Nest and Border to Coast are joining the cause. But not everyone’s on board some are backing Lund's reelection because... well who knows maybe they enjoy the smell of gasoline in the morning.

Showdown at the AGM: Who Will Win?

So it's all coming down to the AGM. The Annual General Meeting is gonna be like a miniature version of the Quarter Quell. Observers are watching closely to see how much opposition there is to Lund's reelection. Historically votes against the chair stay under 10% but this year anything could happen. Maybe they need a Girl on Fire to spice things up? Nah I have had enough fire for a lifetime.

Takeover Target: Is BP the Next Tribute?

And to make things even more interesting BP is now a prime takeover target. Rumor has it that Shell Exxon Mobil and Chevron are all eyeing them up like a juicy jabberjay. It's like being back in the arena constantly looking over your shoulder wondering who's about to stab you in the back. It reminds me of something Haymitch would say 'That's how you stay alive.'

The Governance Games: Who's Really in Control?

The activist shareholder group Follow This thinks the only way to show disapproval is to vote against Lund. They say BP's leadership is afraid of its own shareholders. Shares are down nearly 10% this year. It seems these games are far from over. Let's hope everyone remembers that 'real' is better than 'not real' even when it comes to oil companies and greenwashing!