Brough: 'There is a lot of value still left in BP'

Schroders' Andy Brough still sees ‘a lot of value' in stricken oil giant BP, despite admitting the company can never return to its former glory.

Brough, manager of the £1.58bn Schroder UK Mid 250 fund, says BP remains undervalued in an environment of increased M&A activity in the energy sector. BP yesterday finally sealed the ruptured Gulf of Mexico oil well, which caused the largest offshore oil spill in US history. The oil giant has already paid $8bn in clean-up and compensation and has set aside $20bn to pay for its share of the disaster. "As for what happens to BP now, whether it goes the way of all those companies that got acquired and got broken up remains to be seen," Brough told Bloomberg. "Personally I think there ...