Podcasts
Ian Tyler is BP’s new permanent chair, but the bigger question is whether BP’s real problem is now governance rather than strategy. We examine why Elliott may have won arguments on costs, assets and spending while BP has retained control of what happens next.
Articles
Ian Tyler is now BP’s permanent chair and Amanda Blanc is leaving. But Tyler’s promise to “lead the board’s evolution” points to a deeper issue: BP’s problem is bigger than strategy. Elliott has pushed hard, yet BP has retained control of the process.
Podcasts
Energean’s investment case rests on more than Karish. We examine its wider portfolio, reserves revisions, the acceleration of Katlan and the implications of pursuing growth while leverage remains high — before asking whether the equity offers enough upside for the risks.
Articles
Energean turned discovered East Med gas into a financeable public-market success. The harder question now is whether the same commercial skill can support a broader E&P company when debt, dividends, reservoir risk and geopolitics all matter.
Podcasts
Higher sovereign yields are changing the economics of corporate debt, refinancing and capital allocation. For oil and gas, the risk is sharper: financing costs can stay high even if oil falls, leaving balance-sheet strength to determine who can invest, acquire and survive.
Articles
The US Treasury’s rather fruitless attempt last week to take up some of the slack in demand for long-dated government bonds followed a sharp move in a market that normally sits quietly beneath almost every other cost of capital. Gross US federal debt recently passed $40 trillion. The
Podcasts
Talos replaced founder Tim Duncan with Shell veteran Paul Goodfellow. What can Big Oil executives bring to independents, what may their careers leave untested, and why does the right CEO depend on what the company needs next?
Articles
Talos Energy’s move from founder Tim Duncan to former Shell executive Paul Goodfellow raises a wider question: what really prepares someone to lead a small or mid-cap E&P, where individual judgement on assets, capital and M&A can shape the whole company?
Podcasts
In the final Boardroom Special, Jessica and Oberon ask who might act on their Shell–BP analysis. The search for a mandate leads somewhere unexpected: Houston, and a potential sale or US listing of BP’s American upstream business.
Podcasts
PES tourmailine and karoon0:00/1309.046191× Oil and gas investors have spent a decade demanding more cash back. Tourmaline and Karoon show why that discipline was necessary — but also why exceptional management may sometimes create more value by keeping some financial capacity intact and waiting for the right opportunity.
Articles
Oil and gas investors have spent a decade demanding more cash back. Tourmaline and Karoon show why that discipline was necessary — but also why exceptional management may sometimes create more value by keeping some financial capacity intact and waiting for the right opportunity.
Podcasts
We are still inside the fictional PetroEquity investment bank, Oberon and Jessica develop the theoretical Shell acquisition of BP into an internal pitch book, exploring the valuation, history and confidence problem that could make the idea worth taking seriously.