The BP (LSE: BP) share price has had a strong run. It’s up 40% in the last year and 70% over five. Don’t let that fool you. It’s also a risky old thing and could be about to come crashing down. Or am I being overdramatic?
Today, BP is a company under a cloud. In fact, it’s been that way ever since the Deepwater Horizon tragedy in 2010. The compensation cost it $65bn, quite aside from the reputational damage.
Management has since lurched all over the place, making a big jump into renewables then charging back to its fossil fuel comfort zone. Recent boardroom shenanigans could fill a book. The FTSE 100 oil and gas giant has also become a target for windfall taxes.
