XRG going to buy the tangguh and M&S! Why don’t we just get BL back on the board?
12 replies (most recent on top)
If BL has all this insider knowledge why would he find M&S attractive?
@wy Australia? That’s not a valuable asset.
They sound like good assets to buy at the right price, along with Trinidad and Australia.
@ch They'll be getting plenty of inside information on BP's workings from BL. Apparently, he still owns £5M of BP shares which he is not allowed to dispose of until two years after he left.
@b2 it just got posted to Oilprice.com, here is the link: https://oilprice.com/Company-News/Adnoc-Eyes-BPs-Gas-Assets-Amid-Breakup-Speculation.html
Adnoc Eyes BP’s Gas Assets Amid Breakup Speculation
Abu Dhabi’s national oil company, Adnoc, is exploring the possibility of acquiring select BP assets if the British energy giant opts to divest units or consider a breakup, according to sources familiar with the matter.
Internally, Adnoc has begun evaluating BP’s gas and liquefied natural gas (LNG) assets and has held preliminary discussions with bankers. While it has considered the idea of a full acquisition, the focus remains on specific assets that align with its growth strategy. The company is also open to partnering with other bidders to carve up any future sales.
Adnoc’s interest centers on BP’s gas portfolio and fuel retailing business—not its oil production or refinery operations. Such selectivity reflects strategic focus, as well as the political sensitivities and funding complexities that would come with acquiring BP in its entirety. Adnoc is wary of potential UK government pushback, particularly after last year’s attempt by a UAE-linked entity to acquire The Telegraph was met with resistance.
Any acquisition would likely be pursued through Adnoc’s new international expansion arm, XRG PJSC, which is targeting gas and chemical deals with an enterprise value goal of $80 billion. XRG declined to comment on the matter. BP also did not respond.
What roomer is this?
https://www.wam.ae/en/article/bi4s073-khaled-bin-mohamed-bin-zayed-meets-board-members
You will notice from the photos and footage that BL does most of the talking. Is there any way to get the guy to stfu. You will notice that he has got quite a big bald patch at the back now. LMAO.
@ag If BL fell into a pile of dog sh*t on the sidewalk, he'd stand up clean!! The guy failed his way to the top.
@ah You state that "...MA and BL already agreed these moves not long after he left". BL left in September 2023. How soon after his leaving was this agreed?
This company does not recognize conflicts of interest. Never has, never will. You guys just have to shut it and take it or leave. MA and BL already agreed these moves not long after he left. When MA leaves where do you think he will end up. That’s right - board of Adnoc, board of Reliance. That’s the game people.
Under no circumstances should the board be transacting with an entity where BL is a board member. The conflict of interest is incredible. This is a guy that has destroyed bp now he’s back to cherry pick assets! He and the LT ruined peoples lives. Destroyed shareholder value. Morally bankrupt the entire company and worse still now have the audacity to engineer a large scale transaction that validates BL? The arrogance and narcissism is beyond thinkable.
Can you please share more context?
But what is wrong with one entity buying anything at market price in the open market?
If you don't like that BL is back in a powerful position, I understand, but what about corruption?