BP Ventures is shutting down, ending a nearly 20 year run that was marked by reportedly lackluster returns.
In Brief
Posted:
10:37 AM PDT · July 16, 2026
Image Credits:whitemay / Getty Images
BP has had an on-again, off-again relationship with climate tech. Now, it’s definitely “off.” On top of pivoting away from clean energy earlier this year, the oil giant announced today that it was selling the majority of its venture portfolio — more than 10 companies, according to BP — to Verdane, a Nordic private equity firm.
While BP is bowing out, its partners plan to push ahead with worldscale Pilbara renewables hub.
The oil giant is looking to divest $20 billion of its assets by the end of 2027.
Oil firm seeks to reduce stake in carbon capture and storage projects in north-east of England after schemes fail to win over…
Big Oil's quest for improved margins and efficiencies in a cyclical energy market has strengthened ties with Big Tech giving rise…
Oil giant BP failed to get two motions passed, one of which would've permitted retiring two company climate disclosure…
The oil giant also suspends its share buyback programme ahead of the arrival of its new boss.
