Leadership is one of those intangible, mercurial characteristics far harder to define than recognise. Whether for benign or dark purposes, leadership shapes our world even though that simple truth is wrapped in mystery. The magic of leadership seems a mixture of charm, energy, empathy, vision, radiated if silent testosterone and the capacity to convince others you understand and share their objectives. It is usually, but not always, necessary to have right on your side. However, in a world where charisma and leadership are often confused right and wrong are almost side issues; subjectivity usurps substance, self-interest seems a virtuous motivation.

British Petroleum has announced that Irishman Bernard Looney is to take over as chief executive following Bob Dudley's decision to step down from the role after a 40-year career.

BP says it will need a crude price of about $40 a barrel in 2021 to cover spending and dividends, down from $60 this year, as chief executive Bob Dudley seeks to reassure investors on the oil major’s growth outlook and finances.

Ireland’s oil potential may “hold some intrigue” but exploration carries “real risk”, according to a BP executive.

Ireland’s oil potential may "hold some intrigue" but exploration carries "real risk", according to a BP executive.