With its reputation in tatters and costs continuing to escalate, BP plc last week launched a radical revamp, moving aside its CEO and shaking up its operations with plans to sell close to $30 billion worth of its worldwide assets.
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BP to Sell $30B in Assets, Take $32.2B Charge
With its reputation in tatters and costs continuing to escalate, BP plc on Tuesday announced a radical shakeup that will bring in new leadership and lead to divestments to make the company leaner. The expected asset sales, scheduled to be completed over the next 18 months, could result in the loss of 8% of BP’s total natural gas and oil production worldwide, which still would put the company ahead of Royal Dutch Shell plc.
July 28, 2010
ExxonMobil Chairman Promises ‘Boringly Consistent Results’
ExxonMobil Corp.’s Chairman Lee Raymond assured shareholders Wednesday that they should not expect “radical restructuring” at the world’s largest company, only “boringly consistent results” going forward.
March 14, 2005
ExxonMobil Chairman Promises ‘Boringly Consistent Results’
ExxonMobil Corp.’s Chairman Lee Raymond assured shareholders Wednesday that they should not expect “radical restructuring” at the world’s largest company, only “boringly consistent results” going forward.
March 10, 2005
Two Midcontinent Mergers Near Finish Line
The Midwest utility landscape should expect radical changessoon, as two major mergers have cleared all regulatory approvalsand are closing in on completion.
March 14, 2000
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