BP and Shell rein in electricity ambitions to escape ‘valley of death’

Q: How long will it take to read this news story?

The story "BP and Shell rein in electricity ambitions to escape ‘valley of death’" has 1201 words across 43 sentences, which will take approximately 6 - 11 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "BP and Shell rein in electricity ambitions to escape ‘valley of death’" was covered 2 weeks ago by Financial Times, a news publisher based in United States.

Q: How trustworthy is 'Financial Times' news outlet?

Financial Times is a fully independent (privately-owned) news outlet established in 1888 that covers mostly markets, finance, and investing news. The outlet is headquartered in United States and publishes an average of 7 news stories per day. It's most recent story was published 9 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #24347285</li><li>URL: https://beamstart.com/news/bp-and-shell-rein-in-17338945149383</li></ul>

Financial Times 2w ago

BP and Shell rein in electricity ambitions to escape ‘valley of death’ - Financial Times

Quick Summary:

In particular, BP paid a high price to lease a swath of seabed off the German coast, while both companies have projects in the US, where Donald Trump’s incoming administration has signalled its opposition to offshore wind.

At the same time as pulling back from offshore wind, Shell said it had split its power division into two units, one focused on generation and the other on trading.

Both companies shrugged off questions over whether they had a competitive advantage in renewable energy.“We build and operate some of the biggest projects in the world,” Looney told the Financial Times in 2020.“I wouldn’t underestimate just how relevant some of those skills are.