BP Is Back to Focusing on Oil and Gas ...Middle East

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BP Is Back to Focusing on Oil and Gas
BP announced in February that it was doing a U-turn on plans to broaden its portfolio to include a range of renewable energy projects, and to instead focus on its primary oil and gas business. This was unexpected, as many oil majors have invested heavily in diversifying their energy mix in recent years, with rising pressure to decarbonise to support a global green transition. Five months on, BP has appointed a new chair to oversee the shift back to fossil fuels. BP’s CEO, Murray Auchincloss, announced plans for a “fundamental reset”…

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