BP moves offshore wind business into joint venture with Japan’s Jera

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The story "BP moves offshore wind business into joint venture with Japan’s Jera" was covered 6 days ago by Financial Times, a news publisher based in United States.

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Financial Times 6d ago

BP moves offshore wind business into joint venture with Japan’s Jera - Financial Times

Quick Summary:

Analysts questioned whether the company could afford to keep investing at such a level while also maintaining its current share buyback and dividend policy.

One person close to the company underlined that BP’s capital contribution was a “ceiling, and a significantly lower amount of equity than would have been in the plan this decade”.

BP, which previously pledged to be a “world leader in offshore wind”, has pulled back from renewables under current chief executive Murray Auchincloss to focus instead on oil and gas.