COMMENT RECEIVED: In this article there is a comment from Peter Voser about a possible need for a rescue of BP by Shell following the Macondo disaster in 2010. Knowing that merger negotiations between Shell and BP also occurred more recently, one possible interpretation of the article is that BP’s own strategy might help Shell put its house in order, while Shell’s access to US licences might help BP. Both companies are currently targeted by investigations of manipulation of the price of Brent.
* BP shares still down from day before U.S. oil spill
* But shares up two thirds from post-spill low
* BP reshaped, competitive on return on capital, delaying spill costs
* Still beset with litigation, and its Russian investment unproven
* Q4 results due Feb 4 against backdrop of rivals’ weak statements
By Andrew Callus
LONDON, Jan 26 (Reuters) – If you had spent 10 pounds on BP shares on April 19, 2010, you would have just nine pounds now, including dividends. A poor investment, however you cut it, but also a remarkable recovery.