Can BP survive its own chaos?

Added: 2026-06-02

[00:00:00]BP just claims another victim. It's chairman fired just after months in the job. The leadership merry-go-round spins on. Three CEOs in three years, and now it's chairman Albert Manifold. He's reportedly been accused of aggressive behavior towards staff. Manifold denies all wrongdoing, but investors didn't wait around. BP shares plunged, wiping over $5 billion off its market value.

[00:00:24]Manifold was hired to help turn the company around, refocusing on oil and gas, cutting costs, and ditching renewables. And the market loved it.

[00:00:32]Since he became chairman, BP shares have climbed nearly 30%, outperforming rival Shell. Higher oil prices following the Iran conflict helped, too. First quarter profits more than doubled to $3.2 billion, BP's strongest earnings since 2023. Now, shareholders want answers. Has the entire comeback strategy been thrown into chaos? CEO Murray Auchincloss' position has now been strengthened. He was Manifold personally brought in last year. But if the chaos continues, takeover rumors could resurface.

[00:01:00]Last year, Shell had a publicly denied it was preparing to bid for BP. Crude language might be the least of BP's problems.