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NEW YORK (AP) - BP PLC's reputation as an oil company with a conscience has offered investors concerned about the environment the chance to grab a relatively "green" slice of the industry's enormous profits generated by record oil prices.
But a string of operational catastrophes over the past year — most recently the discovery of severe corrosion in its Alaska pipelines — has scuffed this well-crafted image, prompting a reappraisal by these investors that could have a significant impact on BP's market valuation.
Since BP shut down part of the Prudhoe Bay field on Aug. 6, the stock has fallen 5.5 percent to close Wednesday at $68.53 on the New York Stock Exchange, a sizable move for a company of BP's scale.
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