When BP’s board faces shareholders at the oil company’s investor day later this month, there will be many questions to answer, and for many, the biggest one will be: how did things go so wrong?
The FTSE 100 company was once valued at more than £140bn, but today its shares trade at a market valuation of less than half that sum. BP has lost almost a quarter of its value in the past two years, while its rivals in Europe and the US have managed to grow and in some cases report record annual profits.
