bp’s Post

Why doesn’t BP look after it’s Old Folk? Just Announced - BP 1Q, 24 underlying (RC) profit* $2.7 billion Add this to $13.8 billion BP Profit in 2023''''' ....that’s over $15 billion in the last 15 months ….yes, that’s still over $1,000,000,000 per month! Why doesn’t BP look after it’s Old Folk properly? It just doesn’t want to! BP will argue that Profits have dropped to only $900 million per month. What are they going to do with all that money – Share Buy Backs, Executive Bonus’s, Pensioners Legal Claims in the US ? At the same time as they ask UK BP Pensioners to queue for means tested charitable hand-outs? Time to look after your old folk in the UK BP – do the right thing ! #bpPensions #bpBetrayingPensioners

Meanwhile, bp are still refusing to engage properly with its pensioners to resolve the long-standing pensions scandal of its own making. Whilst bp continue to roll out the same unjustifiable excuses whenever challenged, MPs are fighting our corner and held a debate in the House of Commons last week to discuss the many issues affecting BP DB pensioners. As well as reminding bp of some key facts regarding its interaction with its pensioners (see image below), BP was also referred to as ”𝘮𝘰𝘳𝘢𝘭𝘭𝘺 𝘣𝘢𝘯𝘬𝘳𝘶𝘱𝘵”. #BPpensions

And starving our Pensioners Disgrace Betraying Pensioners

#bp is causing damage, both financially and mentally, to its pensioners. Does it care? Not a jot, it would seem. When will #bp stop behaving like the playground bully to those who served them and worked to build up the company to what it has become today? #BPpensions #ageism

Yes, very good but what about the basics? bp has chosen to renege on cost of living rises for UK pensioners. Shocking.

So now I understand why bp are so desperate to raid the £5 billion pension fund surplus for own benefit, rather than award discretionary pension increases these last 3 years to help fight raging inflation, the purpose of which a surplus is there to provide for. It is because the dearth of winning strategy is so acute in bp today, that share buy backs are the most imaginative thing they can come up with. Which in itself is the most unimaginative action of any business. It is estimated that more than 200 bp pensioners pass away each month, who will remember bp until the end as abandoning them when needed, despite the fund having capacity and bp making hay during high oil prices, the same high prices that were fuelling inflation and harming so many people. Talking of harm, bp actions to ‘silent bully’ their most vulnerable stakeholders and to increase mental health risks knowing only too well how serious that is with their own retirees, suggests there is no use of the bp code of conduct in bp actions and behaviours. Indeed UK members of parliament go further by calling bp ‘morally bankrupt’. US courts go further still by saying bp has ‘committed fraud or similarly inequitable conduct’. What a mess. #bp #BPpensions #codeofconduct

Strange that bp didn't tell the TRUSTEES about it either as the Trustees have requested discretionary payments both last year and this year !!! Refused by bp on no justification whatsoever and a Pension fund that the Trustees decided can afford the discretionary payment.

Treat your pensioners fairly by paying ethical discretionary increases #bppensions #BP the world is watching you, as is the UK government!

bp - 'lower carbon solutions'? bp, why can't you just say...Blue Hydrogen ...made from natural gas? Aren't you just sick of 'obfuscating' ? We're sick of the dishonesty, that's for sure...and, by the way, Blue Hydrogen is NOT LOW CARBON. Furthermore, what experience do you have with CCS reservoir operation and management of the order 10 million tonnes CO2 / Yr? That's right, zero, just like your Board's level of honesty when it comes to the 'Just Transition to Renewable Energy' and it's risible treatment of 60,000 UK DB Pensioners, who you've denied a 2% discretionary increase to their pensions. The third year in a row that fair and reasonable requests for discretionary increases in pension have been rejected. All of your decisions appear to be based on corporate greed and total indifference. People and Planet running a massive second to the number one concern for the Board......fossil fuel based profit, at all costs. So sad.