I think sometimes he's been a little too aggressive in how he's handled the issues.

A solid, and relatively clean, set of figures from BP in the first quarter, a welcome relief following the last couple of non-operational-ridden quarters.

We expect these disruptions to be a continuous feature of 2006 oil markets. Shell is the most leveraged and may need to consider asset swaps to dilute its exposure -- both financially and politically.

BP's growth was the main disappointment in 2005 due to hurricane disruptions. Growth should bounce back in 2006.