BP Boss Defends Fossil Fuel U-Turn ...Middle East

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BP Boss Defends Fossil Fuel U-Turn
source : OILPRICE ( Middle East ) () 135
BP boss Murray Auchincloss has defended the company’s move to increase fossil fuel production and ditch its renewable energy commitments. Auchincloss is under mounting pressure from BP investors, who are frustrated at the oil major’s underperforming share price. The executive unveiled plans for a “fundamental reset” two weeks ago, which included ditching a series of green energy targets set out five years ago. Writing in the Times, he said “unravelling” the pledges had been well received by investors. “From…

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