Big Oil’s Ambitious Decarbonization Strategies Have Gone Bust ...Middle East

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Big Oil’s Ambitious Decarbonization Strategies Have Gone Bust
source : OILPRICE ( Middle East ) () 41
Back in February 2020, British oil and gas multinational BP Inc. (NYSE:BP) announced an ambitious goal to become net-zero by 2050 through, among other things, aggressively cutting oil and gas production and also undertaking one of the industry’s most expansive renewable electricity build-outs.  In April of the same year, deep in the throes of the oil price crash, BP’s Dutch peer Shell Plc (NYSE:SHEL) warned that global oil demand had been permanently destroyed and effected its biggest dividend…

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