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BP faces hostile shareholders and protesters


BP faces hostile shareholders and protesters


BP’s bosses faced much anger at the energy giant’s first shareholders’ annual general meeting since the Gulf of Mexico disaster.

Inside the London venue institutional investors spoke out against excessive executive pay while outside there were protests against a range of issues including climate change, tars sands extraction, and inadequate compensation for those who fish in the area where millions of gallons of crude was spilled.

Texas fisherwoman Diane Wilson smeared her face with a dark syrup which looked like oil and said she wants jail terms for those responsible for the disaster: “The only way that you can make executives who are making ‘beaucoups’ (lots) of money, the only way you stop them from doing it again, is to haul them off to jail.”

The Deepwater Horizon explosion almost a year ago – which killed 11 workers – has so far cost BP around 28 billion euros.

And its efforts to recoup some of that money by deals in Russia are now in trouble.

An attempted tie-up with Russia’s state owned Rosneft to drill in the Arctic has been blocked in the courts by the British firm’s Russian partners in another earlier joint venture TNK-BP.

At the shareholders’ meeting chief executive Bob Dudley confirmed BP and Rosneft are still trying to buy out the TNK partners with cash and an offer of drilling rights in the Arctic.

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