BP needs to emulate ExxonMobil’s model

Raju Patel of Fulcrium writes in the FT. The Deepwater Horizon accident in the Gulf of Mexico is undoubtedly a watershed event for BP, for regulators and for the industry. Under new chief executive, Bob Dudley, BP needs to change. Having inherited a disparate collection of upstream assets from the 1998 merger with Amoco, Bob Dudley’s predecessor Tony Hayward embarked…

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Supermajor transforms consultancy relationships

Supermajors need a service ethos

Raju Patel of Fulcrium writes in the FT. The five largest, non state-owned energy companies worldwide (ExxonMobil, BP, Royal Dutch Shell, Chevron and Total) are termed supermajors and hold about 3 per cent of global hydrocarbon reserves. They were created from the late 1990s to hedge against oil price volatility, achieve economies of scale and reinvest cash reserves. While the…

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What boards should consider when choosing management consultants.

Raju Patel of Fulcrium writes in the FT. The chief executive of Fulcrium spells out his opinion of what boards should consider when choosing management consultants. Management consultancy firms would have us believe they possess a diverse expertise and track record for solving business problems. I believe this is not always the case. Many a client has learnt through expensive,…

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FT Report – Business of Consulting:

Raju Patel of Fulcrium writes in the FT. More bang for your buck – How to get the best out of Strategy Consultants. Despite the platitude, one often hears, that strategy consultants should be independent, clients want their consultants to be partial. They want them to “express and justify views put forward” rather than sit on the fence. Strategy consultants…

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