BP Defends Low-Carbon Plan Despite US Megadeals By Competitors
The company’s temporary boss is vouching for its low-carbon strategy, risking a wider valuation gap with US competitors that are doubling down on fossil fuels.
BP is focused on growing low-carbon business, not oil and gas.
Photographer: Jason Alden/Bloomberg
Welcome to Energy Daily, our guide to the energy and commodities markets powering the global economy. Today, reporter Laura Hurst looks at BP’s determination to continue with its low-carbon strategy. To learn how China’s richest person made billions bottling pristine water, read this. To get this newsletter sent straight to your inbox, you can sign up here.
BP Plc doesn’t believe it needs to bolster US shale activities following Exxon Mobil Corp. and Chevron Corp.’s giant oil deals last month. If anything, its American rivals may have overpaid.