Gap between PR on safety & reality hit BP
BP has been accused of negligence and arrogance following the Deepwater Horizon disaster. Alex Davis examines the central role energy sector reputational risk management must now play
There have long been discussions over the extent to which risk management can and should address a company’s reputational risk. The topic has been brought to the fore again recently following the BP Gulf of Mexico Deepwater Horizon oil rig explosion in April. As the company struggled to stop an estimated 60,000 barrels of oil a day spewing into the sea, BP has also become engulfed in a very real battle for survival.
BP’s share price has halved in value from the £6 per share closing price before
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