BP is expected to announce record second-quarter profit next week but oil industry analysts are growing nervous about life after Lord Browne, the UK energy company's visionary chief executive, who is nearing retirement age.

Mark Iannotti, analyst at Merrill Lynch, the investment bank, wrote yesterday: "We view the mandatory retirement of BP CEO John Browne . . . as an emerging issue and potential medium-term risk for shareholders and our positive investment stance."