No thrills in BP's slow climb out of the pit

By Terry Macalister

 06 December 2012 23:59 GMT

BP has often displayed great potential for grabbing headlines — but in recent years it has almost always been for the wrong reasons.

Hopes were high ahead of the company’s Upstream Investment Day this week that there would finally be something positive to celebrate.

Wall Street wanted to hear a dynamic new BP recovery strategy after the setbacks of Texas City, the horrors of Macondo and the tussles in Russia.

But chief executive Robert Dudley made clear he is not to be rushed into taking any dramatic new path — certainly not for the sake of a quick media hit.

He turned his face away from any suggestions that BP would use higher projected future cash flow…

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