BP blames ‘misplaced’ faith in green transition for its renewed focus on fossil fuels
CEO Murray Auchincloss says ‘fundamental reset’ will mean cut of more than £4bn to low-carbon investment planBP has abandoned its green ambitions in favour of ramping up fossil fuel production as its boss claimed that optimism over the pace of the green transition had been “misplaced”.In a major strategy shift, the energy company will increase its investment in oil and gas to $10bn (£7.9bn) a year while slashing more than $5bn from its previous green investment plan. Continue reading...
CEO Murray Auchincloss says ‘fundamental reset’ will mean cut of more than £4bn to low-carbon investment plan
BP has abandoned its green ambitions in favour of ramping up fossil fuel production as its boss claimed that optimism over the pace of the green transition had been “misplaced”.
In a major strategy shift, the energy company will increase its investment in oil and gas to $10bn (£7.9bn) a year while slashing more than $5bn from its previous green investment plan. Continue reading...
