Energy & Science
BP Hits 25-Year Low a Week After Unveiling Climate Strategy
- Shares of oil giant fell 2.8% to lowest since October 1995
- New CEO Looney just revealed his plans for clean energy
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Just a week after revealing its plan to turn itself into a clean-energy giant, BP Plc watched its share price drop to a 25-year low.
Chief Executive Officer Bernard Looney and his new management team gave more than 10 hours of presentations over three days last week, in a bid to show the world that the oil and gas giant could adapt to a low-carbon future without sacrificing returns.