BP hasn’t fallen out of love with renewables. It just wants to have more power.
CEO Bernard Looney’s pursuit of green energy outstripped all rivals three years ago when he outlined a radical blueprint to move away from fossil fuels. Last month he applied the brakes, slowing BP’s planned cuts in oil and gas and scaling back planned renewables spending in the wake of the war in Ukraine.
The oil major isn’t backing away from renewables though, its green chief Anja-Isabel Dotzenrath stresses, it’s simply changing the terms of the relationship.
