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  "documentTitle": "BP plc (BP)",
  "authorId": "23_Bluebell_Capital",
  "authorName": "Giuseppe Bivona & Marco Taricco",
  "documentKindSlug": "shareholder-letter",
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  "presentationDate": "2024-05-01 00:00:00",
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      "kind": "callout",
      "text": "We would argue that to hide behind a technicality of “minority” ownership to avoid shareholder scrutiny, is ethically and morally wrong.",
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      "kind": "paragraph",
      "text": "12m fwd PE vs an average of 12.4x for the US companies. To put this into perspective, the discount averaged 21% in the years 2006 to 2019, and was as small as 15% in the calendar year 2018.",
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      "text": "Secondly, as expressed in our letter dated March 18th, 2024, we have found that contrary to what Mr Lund represented to us, several shareholders do not support BP's current position (or at least not fully) on the issues we have raised.",
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      "text": "Thirdly, we were frankly astonished by BP's refusal to answer the questions we submitted ahead of the 2024 AGM, regarding the recent judgement issued on February 21st, 2024, by the UK High Court of Justice, which quashed the planning permission for BP's solar development JV \"Lightsource bp\"...",
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      "kind": "source-note",
      "text": "2 Source: Bloomberg data as of 29/04/2024",
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      "kind": "title",
      "text": "BLUEBELL CAPITAL PARTNERS",
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