New CEO Must Overhaul U.S. Operations, Repair Relations With U.S. Government and Possibly Reshuffle Management.
Will Riley, fund manager at Guinness Asset Management was recently asked to comment on BP PLC’s board approval of Robert Dudley as the ‘oil giant’s new chief executive and his to-do list which includes overhauling a U.S. operation tainted by the Gulf of Mexico oil spill; mending fences with U.S. government officials; and possibly making further top level changes at the embattled company.
Will commented “An American CEO will clearly be better able to improve BP’s political relationship with the U.S. government.”
To read this story in full on the Wall Street Journal, please click here.
Investing pros tell how they are positioning their portfolios as the U.S. oil industry faces greater regulation, higher costs, and a supply cut
In a recent article for Business Week, Tom Nelson, fund manager at Guinness Asset Management and some other industry investment pros reflect on how the BP deep water oil spill could cloud fund managers views on portfolio compostion. It’s likely that investment managers will almost certainly have to revise their return assumptions for certain companies with significant deepwater exposure as higher costs of regulation, safety procedures, and insurance, become clear.
To read the article in full and to view Tom’s comments please click here.
Tim Guinness, CEO and Chief Investment Officer for Guinness Asset Management recently appeared on Bloomberg TV and talked about BP Plc’s third-quarter earnings and outlook for its deepwater drilling platforms. To watch Tim’s interview please click here.