Skip to content

Business

A year on from the Gulf of Mexico oil spill BP's battle to win back trust continues

by Laura Brown 19 Apr 2011
A year on from the Gulf of Mexico oil spill BP's battle to win back trust continues

This week marks a year since the worst oil spill in US history.

At around 10pm on 20 April 2010, BPs Deepwater Horizon rig exploded killing 11 workers and leading to 4.9 million barrels of oil flooding into the Gulf of Mexico. The ramifications of the disaster to the local community are still being felt. Fish populations have been decimated, leaving fish businesses in a woeful condition. Tourism firms running charter boats and sea trips have found revenue streams still unavailable.

Promises of direct action to mark the anniversary, discussions of compensation to be received from BP as well as a continuation of negative press coverage in the months after the disaster have left the company recognising they face a battle to win back trust.

As shareholders gathered in London for its first Annual General Meeting since the disaster, emotions ran high inside and outside. On the street outside London's Excel building, protests made headlines around the world with scuffles and one arrest reported. Pictures of Diane Wilson from Texas, a shrimp farmer and campaigner daubed in tar and being refused entry by police featured in newspapers and online. Five shareholders, fishermen who had travelled from the Gulf of Mexico, were refused entry as they too, covered in tar, were told there were fears they would disrupt the meeting. They were joined by several hundred unionists, contractors from a proposed £200 million ethanol biofuel plant in Hull, engaged in a row over employment with BP.

Inside the AGM, the mood was no calmer or conciliatory. An author from the Gulf Coast, Antonia Juhasz, read a statement from the father of Gordon Jones one of the 11 workers who died in the explosion. The BBC reported some in the hall tried to get onto the stage but were stopped by security staff.

Meanwhile, there was anger at paydeals being given to BP's top bosses. One lobby group termed the deals "wholly unacceptable" which see a £380,000 annual bonus going to Chief Financial Officer Byron Grote and another of £310,000 for Iain Conn, Chief Executive of Refining and Marketing. Tony Hayward, who was in charge at the height of the Deepwater crisis did not receive an annual bonus in 2010, yet he and the firm's former head of exploration Andy Inglis could still receive up to £8million and £6million respectively from vested performance shares. Chief executive Bob Dudley, who was presiding over his first AGM, did not receive a bonus for 2010.

Anger also swamped the meeting over a proposed Russian deal worth $8 billion in a share swap with Rosneft. The deal would allow BP to explore Russia's oil-rich Arctic yet a row with AAR, four oligarchs who partner BP in TNK-BP threatens to scupper it with legal objections. Amidst claims the proposal breaches an existing shareholder agreement, the deal has been postponed until mid-May.

With a quarter of shareholders opposing the re-election of Sir William Castell, BPs senior Independent Director and 15% against that of chairman Carl-Henric Svanberg the firm still has a long way to go to win back the support they lost in a turgid twelve months. BP PLC has lost a quarter of its market value, some £34 billion. A year on from Deepwater Horizon, the full impact for all those involved remains undefined.


Trending Eco-Friendly Clothing

Love My Planet Women's Relaxed Fit Hoodie
Earth
Quick Add
Close
Notify me
Notify me
Love My Planet Women's Relaxed Fit Hoodie
Love My Planet women's eco-friendly relaxed fit hoodieSize Guide Centimeters 8 10 12 14 16 18 Bust 84 88 92 97 103 108 Waist 66 70 75 80 85 91 Hips 91 95 99 104 109 116 Bust: Measure around the fullest part of...
£38.00
£38.00
Close
Notify me
Notify me
Penguins Hate Push-Ups Men's Pullover Hoodie
Earth
Quick Add
Close
Notify me
Notify me
Penguins Hate Push-Ups Men's Pullover Hoodie
Penguins Hate Push-Ups men's eco-friendly pullover HoodieSize Guide Centimeters XS S M L XL XXL Height 171 175 179 183 189 195 Chest 86 93 99 104 116 129 Waist 71 76 81 89 99 112 Chest: Measure all round your chest just below...
£38.00
£38.00
Close
Notify me
Notify me
Lightning Bolt Kids Long Sleeve T-Shirt
Earth
Quick Add
Close
Notify me
Notify me
Notify me
Lightning Bolt Kids Long Sleeve T-Shirt
Lightning Bolt kids eco-friendly long sleeve t-shirtSize Guide Centimeters 3-4yrs 5-6yrs 7-8yrs 9-10yrs 11-12yrs Height 98 112 125 136 147 Chest 60 66 70 75 84 Chest: Measure all around your chest just below your armpits. Height: Your natural height If you fall between...
£18.00
£18.00
Close
Notify me
Notify me
Notify me
Union Jack Tote Bag
Earth
Quick Add
Close
Notify me
Notify me
Union Jack Tote Bag
Union Jack eco-friendly colour tote bagProduct Specification Organic Cotton Tote Bag. Twill Weave (170gsm). 37 x 42 cm (7cm gusset.) Made in India / Designed on the Isle of Wight. Wash Cool, Hang Dry.
£16.00
£16.00
Close
Notify me
Notify me
Prev Post
Next Post

Eco-Friendly Shop

Women's Clothing

Eco-Friendly Clothing for Women Our online shop offers a wide range of sustainable women’s clothing products, including t-shirts, hoodies, vests, sweaters, shorts, and...
Shop Now

Men's Clothing

Eco-Friendly Clothing for Men Our online shop offers a wide range of sustainable men’s clothing products, including t-shirts, hoodies, vests, sweaters, shorts, and...
Shop Now

Kids Clothing

Eco-Friendly Clothes for Kids Our online shop offers a wide range of sustainable kids clothing products, including t-shirts, hoodies and jumpers. Our garments...
Shop Now
Someone recently bought a
[time] ago, from [location]

Thanks for subscribing!

This email has been registered!

Shop the look

Choose Options

Earth Times
Sign up for exclusive updates, new arrivals & insider only discounts

Recently Viewed

Edit Option
Back In Stock Notification
this is just a warning
Login
Shopping Cart
0 items

Before you leave...

Take 20% off your first order

20% off

Enter the code below at checkout to get 20% off your first order

CODESALE20

Continue Shopping