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| BP annual meeting sparks angry protests | BP annual meeting sparks angry protests |
| (about 1 hour later) | |
| BP faced angry demonstrators at its first annual general meeting since the disastrous Gulf of Mexico oil spill. | BP faced angry demonstrators at its first annual general meeting since the disastrous Gulf of Mexico oil spill. |
| Fishermen from the US joined UK trade unionists and environmentalists for almost four hours of protests at the AGM in London. | Fishermen from the US joined UK trade unionists and environmentalists for almost four hours of protests at the AGM in London. |
| There were scuffles outside the hall when some activists were refused entry, and proceedings inside were momentarily halted to evict a group of people. | There were scuffles outside the hall when some activists were refused entry, and proceedings inside were momentarily halted to evict a group of people. |
| It is understood that one woman was arrested for a breach of the peace. | It is understood that one woman was arrested for a breach of the peace. |
| Inside the ExCel centre in east London the BP board faced a barrage of hostile questions about its "green" credentials, pay, and ill-starred bid to do a deal with Russia's Rosneft. | Inside the ExCel centre in east London the BP board faced a barrage of hostile questions about its "green" credentials, pay, and ill-starred bid to do a deal with Russia's Rosneft. |
| Lost trust | Lost trust |
| But it was last year's fatal explosion at the Deepwater Horizon rig, which unleashed a huge oil spill, that sparked the most vocal protests. | But it was last year's fatal explosion at the Deepwater Horizon rig, which unleashed a huge oil spill, that sparked the most vocal protests. |
| The meeting has been passionate at times, especially when a statement from the father of one of the dead oil rig workers was read out. | The meeting has been passionate at times, especially when a statement from the father of one of the dead oil rig workers was read out. |
| "You were rolling the dice with my son's life and you lost," said the statement on behalf of Keith Jones. | "You were rolling the dice with my son's life and you lost," said the statement on behalf of Keith Jones. |
| Some people who had travelled to London from the Gulf Coast have been denied entry to the meeting. And a handful of people have been kicked out of the meeting. They tried to get on the stage during a discussion about BP's involvement in Canada's tar sands projects. One of the protesters was physically carried out. | Some people who had travelled to London from the Gulf Coast have been denied entry to the meeting. And a handful of people have been kicked out of the meeting. They tried to get on the stage during a discussion about BP's involvement in Canada's tar sands projects. One of the protesters was physically carried out. |
| Other people have got concerns about BP's deal with Russia's Rosneft, and the value of BP's shares. "There are very many upset people here," said a man who said he has owned shares in BP since 1954. | Other people have got concerns about BP's deal with Russia's Rosneft, and the value of BP's shares. "There are very many upset people here," said a man who said he has owned shares in BP since 1954. |
| Outside the meeting, it was very noisy. There were dozens and dozens of protesters here, vying with each other to shout the loudest. | Outside the meeting, it was very noisy. There were dozens and dozens of protesters here, vying with each other to shout the loudest. |
| Some of the bright, colourful banners read "global climate crime" and "BP: your party is over". | Some of the bright, colourful banners read "global climate crime" and "BP: your party is over". |
| It caused quite a scene, with demonstrators, a brass band and police all having their say. | It caused quite a scene, with demonstrators, a brass band and police all having their say. |
| During his speech, BP chairman Carl-Henric Svanberg acknowledged the impact that the disaster had wrought on Gulf communities and also the energy giant itself. | During his speech, BP chairman Carl-Henric Svanberg acknowledged the impact that the disaster had wrought on Gulf communities and also the energy giant itself. |
| Life had "not been easy" for BP during the past 12 months and the company had to "work hard to earn back trust", he said. | Life had "not been easy" for BP during the past 12 months and the company had to "work hard to earn back trust", he said. |
| As a mark of respect Mr Svanberg read out the names of the 11 rig workers who died in the explosion, and repeated his promise that BP would pay to clean up the Gulf coast. | As a mark of respect Mr Svanberg read out the names of the 11 rig workers who died in the explosion, and repeated his promise that BP would pay to clean up the Gulf coast. |
| Before the meeting, scuffles broke out when representatives of Gulf communities were refused entry, with BP saying they were judged to be a threat to other shareholders. | |
| "I've come all the way here from the Gulf Coast," said Diane Wilson, a fourth-generation fish company owner from Seadrift, Texas. "My community is gone, and they won't let me in." | "I've come all the way here from the Gulf Coast," said Diane Wilson, a fourth-generation fish company owner from Seadrift, Texas. "My community is gone, and they won't let me in." |
| Inside the auditorium, BBC business reporter Rob Young said some protesters attempted to storm the stage and one was physically carried out. | Inside the auditorium, BBC business reporter Rob Young said some protesters attempted to storm the stage and one was physically carried out. |
| Mr Svanberg described it as a "disturbance" at the back of the hall. He admitted that some people had "strong emotions". | Mr Svanberg described it as a "disturbance" at the back of the hall. He admitted that some people had "strong emotions". |
| Troubled deal | Troubled deal |
| Many shareholders, especially BP's large institutional investors, were looking to the meeting for progress on the company's proposed £10bn share-swap deal with Rosneft. | Many shareholders, especially BP's large institutional investors, were looking to the meeting for progress on the company's proposed £10bn share-swap deal with Rosneft. |
| The planned deal has been on hold after AAR, which partners BP in their TNK-BP joint venture, claimed the Rosneft proposal breached a pre-existing shareholder agreement. | The planned deal has been on hold after AAR, which partners BP in their TNK-BP joint venture, claimed the Rosneft proposal breached a pre-existing shareholder agreement. |
| AAR has got a court injunction against the Rosneft deal, which BP chief executive Bob Dudley had hailed as a vital part of his company's growth strategy through exploration in the Arctic. | AAR has got a court injunction against the Rosneft deal, which BP chief executive Bob Dudley had hailed as a vital part of his company's growth strategy through exploration in the Arctic. |
| He told the meeting that BP and Rosneft offered to buy out the Russian partners in TNK-BP. | He told the meeting that BP and Rosneft offered to buy out the Russian partners in TNK-BP. |
| "We have offered them participation in the Arctic. We have offered cash, we have offered participation to TNK-BP in international ventures and we have even jointly offered, with Rosneft, a fair offer for their company," Mr Dudley said. | "We have offered them participation in the Arctic. We have offered cash, we have offered participation to TNK-BP in international ventures and we have even jointly offered, with Rosneft, a fair offer for their company," Mr Dudley said. |
| But he added: "We are not going to offer large amounts or significant shareholdings in BP." | But he added: "We are not going to offer large amounts or significant shareholdings in BP." |
| Late on Wednesday, BP extended by a month the deadline to complete the Rosneft share-swap hours before its expiry. | Late on Wednesday, BP extended by a month the deadline to complete the Rosneft share-swap hours before its expiry. |
| Pay protest | Pay protest |
| Shareholders also put pressure on BP's board with a sizeable protest vote over the pay deals handed to the company's top executives. | Shareholders also put pressure on BP's board with a sizeable protest vote over the pay deals handed to the company's top executives. |
| Mr Svanberg revealed that just over 11% of votes cast by shareholders not present at the meeting were against the remuneration report. Votes from those at the meeting had still to be counted. | Mr Svanberg revealed that just over 11% of votes cast by shareholders not present at the meeting were against the remuneration report. Votes from those at the meeting had still to be counted. |
| Some 25% of shareholder votes also opposed the re-election of Sir William Castell, the senior independent director and chairman of BP's safety and governance committee. | Some 25% of shareholder votes also opposed the re-election of Sir William Castell, the senior independent director and chairman of BP's safety and governance committee. |
| Last year the vote against him was less than 1%. | Last year the vote against him was less than 1%. |
| It is thought that Calpers, a large US-based pension fund, and the Florida State Board of Administration, were among shareholders voting against Sir William's re-appointment. | It is thought that Calpers, a large US-based pension fund, and the Florida State Board of Administration, were among shareholders voting against Sir William's re-appointment. |
| Before the meeting Bill Seddon, chairman of the Church Investment Group and chief executive of the Central Finance Board of the Methodist Church, told the BBC that his organisation would vote against Sir William's re-election. | Before the meeting Bill Seddon, chairman of the Church Investment Group and chief executive of the Central Finance Board of the Methodist Church, told the BBC that his organisation would vote against Sir William's re-election. |
| "Church investors around the world are looking to give a signal to BP... This [Gulf spill] happened on his watch and somebody has to take responsibility for it." | "Church investors around the world are looking to give a signal to BP... This [Gulf spill] happened on his watch and somebody has to take responsibility for it." |