BP British Petroleum to change its name

BP plc (NYSE: BP) will change its name to British Petroleum in a desperate attempt to slip the public’s growing negative opinion of the company. The oil firm has spent nearly a decade building the BP name.

Brand consulting company BrandZ puts the value of the BP brand at $17 billion. Interbanrd put the value of the BP brand at $3.7 billion. The discrepancy is the reasons no one takes the bran More..d valuation business seriously.

BP’s market cap is $134 billion down from $194 billion at its 52-week high. It is now likely that BP has a negative brand value, not like the American International Group (NYSE: AIG)