BP set to scale back green investments as profits drop sharply

Quick Summary:

The oil giant is widely expected to say it will scale back on renewables later this month.

Doubling down on oil and gas was a "financial risk that prudent and responsible investors must respond to decisively", it added.

In December it put the majority of its offshore wind assets into a joint venture with Japanese company Jera to separate them from the company's core fossil fuel business.

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Category: Business

Markets: United KingdomCubaJapanMexico

Topics: Climate Expected Fossil Investment Energy Renewable Renewables Year Last Production

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-11 @ 15:47:58 (1 weeks ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 797 words

Reading Time: 5 minutes read

Sentences: 35 lines

Sentence Length: 23 words per sentence (average)

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Copyright Owner: © BBC Business

News ID: 26143882

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Official Website: bbc.co.uk

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News Last Updated: 15 hours ago

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