European oil giants step back from renewables path
Almost five years ago, BP embarked on an ambitious attempt to transform itself from an oil company into a business focused on low-carbon power. The British company is now trying to return to its roots as a big oil and gas player with a growth story to match rivals, revive its share price and allay investor concerns over future profits. Rivals Shell and Norway's state-controlled Equinor are also scaling back energy transition plans set out earlier this decade.
Reuters
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18 hours ago