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BP – new CEO sounding loony… or being very clever?

By Tom Winnifrith & Steve Moore | Friday 19 June 2020


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


“revises price assumptions; expects charges at 2Q” announcement from BP (BP.), including February-commenced CEO Bernard Looney stating “in February we set out to become a net zero company by 2050 or sooner… we have been reviewing our price assumptions over a longer horizon. That work has been informed by the COVID-19 pandemic, which increasingly looks as if it will have an enduring economic impact”. Loony or very clever?...

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