GB is trying to get 40 solid years. But, he will sell assets and then be asked to leave
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@dn - I agree that bp will likely be better for divesting where businesses cant compete for capital but disagree that NS isn’t a viable region.
So many other divestments and assets have gone on to be better business without bp.
Sure the balance sheet will improve somewhat but bp isn’t going to get top dollar for the sale.
Oh, and every other business is soon going to pickup a bigger share of the bp overhead…good luck.
🙏🙏🙏
@a7 agree that Archea, Travel Centers, Biofuels were horrible acquisitions/projects, and that TSI is an ongoing abortion (TSI may last a bit longer than the other 3 which will be soon gone).
However, those poor business decisions don't mean the NS is still a viable region, because it isn’t, and the Britts tax the he-l out of the dwindling production.
bp will be MUCH better off without the NS bureaucracy anchor around its neck.
Look for the rest of Retail, M&S to join the NS and Egyptian assets in the divestiture pile.
@a7 nah those things don’t change the fact that the North Sea is declining and no longer profitable at the level we need.
If we are talking about Albatrosses, then you need look no further than Archea, Travel Centers, Biofuels - not to mention still paying out over the worst process safety incidents in the US and also TSI.
Without those deadweights, the North Sea will be just fine.