What Went Wrong for BP? Why the Oil Major Hit Reset

It’s been almost 25 years since BP Plc attempted to rebrand itself as “Beyond Petroleum” and adopt a more environmentally friendly image. But with a recent swing away from green energy toward its fossil fuel roots, “Back to Petroleum” might be a more appropriate tag line.

The shift comes as BP lags significantly behind its fellow oil and gas majors, thanks to a combination of corporate disasters, war, lackluster returns from its greener efforts, and some bad luck. And with American activist investor Elliott Investment Management now turning up the heat and rival Shell Plc potentially considering a takeover bid, BP is facing existential questions about its survival.