Deals

BP Is ‘Scanning’ for Renewables Deals to Plan for a Life Beyond Oil

Company ‘not going to be behind’ in new-energy shift, CEO says
Trump’s U.S. solar-panel tariff won’t change Dudley’s approach

BP’s Chief Executive Officer Bob Dudley discusses the outlook for the energy industry and strategies for the company."Daybreak: Americas" at the World Economic Forum’s annual gathering in Davos, Switzerland (Source: Bloomberg)

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By Kelly Gilblom and Erik Schatzker

January 23, 2018 at 3:34 PM UTC

This article is for subscribers only.

BP Plc, the oil major that sold a third of its assets after a disastrous rig accident in 2010, said it won’t be left behind as the industry boosts investment in new energy.

“We haven’t made really big bets but we’re scanning and screening everything” to assess renewables opportunities, Chief Executive Officer Bob Dudley said Tuesday. BP must “get its balance sheet really strong, and then we’ll be able to do whatever we think is the right thing to do.”