Memoirs of former BP Chair reveal ambitious expansion & systemic failures

The memoirs of former British Petroleum Chairman Sir John Browne were published in February and its tale of ambitious company expansion foreshadowed the Deepwater Horizon explosion just two months later. Browne writes about BP’s efforts to move beyond its stature as a “middleweight insular British company” by embarking on an overwhelming risk-taking strategy of deepwater drilling and acquisitions which led to its expansion of operations into the Gulf of Mexico. While reflecting on other events like the Texas City explosion and North Sea near-miss, Browne seems to have denied the warning signs of systemic breakdowns. A book reviewer indicts Browne’s failure to admit that he led BP too far, too fast with risky technology. Whether or not you agree with Browne’s take, the story does give insight into the company’s tunnel vision ambitions that explains, if not excuses, the culture leading up to the Deepwater Horizon.

Source: Forbes