BP executives face Gulf of Mexico protester’s wrath
A wave of protests are expected as BP's top executives gather in London today (April 14) in London's Excel.
The oil giant is widely expected to face a tough time over bonuses to top staff from investors and shareholders at its Annual General Meeting AGM.
Residents from the Gulf of Mexico, many who have bought share to gain access to the meeting, have flown to London to voice anger over BP’s handling of the accident and it’s devastating aftermath.
Shareholder and investors could vote against BP’s annual report and accounts, which it promoted with a full page advert in today’s Financial Times, which would an embarrassment for the business.
Protesters are also furious that almost a year after the disaster more than £100,000 of bonuses were given to just two of BP’s executives.
According to Greenpeace even more excessive payouts went to former BP chief executive Tony Hayward who allegedly received more than £1m compensation and £8m of shares on leaving following his handling of the spill.
A spokeswoman for Greenpeace said: “Gulf of Mexico communities and environmental groups will instigate a passionate showdown.
“But BP will also be hit where it hurts the most – their pockets – by incensed investors, in front of a huge global media presence.
“So the week from the AGM until the anniversary of Deepwater Horizon is the perfect time to speak out against BP’s unrelenting, greed-driven pursuit of oil, regardless of the catastrophic consequences.”
And, a £10 billion deal between BP and Russian state oil company Rosneft to develop artic oil fields is also under-fire.
The deal hangs in the balance after it was blocked by four of BP’s existing partners, known as AAR who believe a deal signed with them over rules the proposed Roseneft agreement.
However the wrangle, which is now in the US courts, is unlikely to be sorted out until next month.