Bernard Looney

They couldn't help but make a fortune because the price of what they were getting out of the ground was going up like crazy.

So in two thousand and twenty, a gentleman called Helge Lund was the chairman of BP, and Bernard Looney, who you've mentioned, Irish executive, was the chief executive.

By twenty twenty-three, it was Mr. Lund and Murray Auchincloss.

Mm-hmm.

You know, you, you, you want a bit of stability, and that's pretty unusual in a company of this size and stature.

Now, some of this was sort of self-inflicted own goals.

Bernard Looney h-had relationships with his staff, which he wasn't honest with the board about.

Mr. Auchincloss w-was promoted from CFO, did a, well, reasonably safe pair of hands, but d-didn't have that kind of leadership magic and was seen as being too close to Looney.

They cited serious concerns over what they called governance standards, oversight, and conduct.

And then before that, their former CEO also resigned, that was in twenty twenty-three, over his failure, that was Bernard Looney, his failure to fully disclose a past relationship with colleagues.

So there's been a lot of upheaval.

They've now got a new CEO, Meg O'Neill, relatively new, um, and now as of today, a, a fresh permanent chair.

the last thing I would say...

Sorry, just, just, just one thing that I kind of remember is that Bernard Looney, the, the then BP CEO back in 2022, he was, he was kind of like, um, kind of eviscerated by the media for saying, you know, that BP would still make billions if oil was at $60 a barrel, and that that would still be like amazing for them as a company as a long-term price.

So when people talk about sort of $70 or $80 or even $100 a barrel, that's...

You know, the oil companies are still making massive profits at $60, and they're very, very happy at that.