BP board suffers investor rebellion over climate and governance issues at AGM
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CNBCSam Meredith
BP board suffers investor rebellion over climate and governance issues at AGM
CNBC’s Sam Meredith breaks down what unfolded at BP’s annual general meeting, one in which the British energy major suffered a shareholder revolt over climate and governance issues.
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On April 20, 2010, the Deepwater Horizon oil rig exploded in the Gulf of Mexico, 41 miles off the Louisiana coast. The explosion killed 11 workers and injured 17 others. But the disaster was just beginning. The wellhead, nearly a mile underwater, ruptured. BP's blowout preventer failed completely. For 87 consecutive days, crude oil gushed uncontrollably into the Gulf at a rate of up to 53,000 barrels per day. By the time it was finally capped on July 15, 2010, approximately 4.9 million barrels—r
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