By Damian Reece 12:17PM BST 26 Jul 2011
Management, led by Bob Dudley, is gradually losing the trust of shareholders who have sat through one failure after another, most recently the Macondo oil spill and then the spectacular blow up of its Russian strategy.
I expect one of the big pictures to emerge form this weeks results from the big oil companies is the marked divergence in the fortunes of BP and Royal Dutch Shell. Since BPs fatal accident in the Gulf of Mexico, its shares are off a third while Shell is up 15pc.