BP’s Crisis Marks Tombstone for Big Oil’s Green Pivot

BP to expand board as part of pivot back to oil and gas - FT
BP (NYSE:BP) plans to add two new directors to help it pivot back to oil and gas, Financial Times reported Tuesday, as Chair Helge Lund wants the board to reflect the company’s new strategy, after it abandoned a drive towards green energy last week to refocus on its core oil and gas business.
BP’s Crisis Marks the Tombstone for Big Oil’s Green Pivot
Even the oil giants that attempted to switch away from fossil fuels are going back to oil and gas. The chief executive of BP Plc oozed confidence as he strode out onto a Houston stage in 2023 to tell an audience of fellow oil executives that he no longer ran an oil company.
BP's green failure offers Big Oil a lesson in moderation
BP has returned to its oil and gas roots in a spectacular about-turn following its trailblazing attempt five years ago to become a renewables giant. The takeaway for Big Oil is that the energy transition is a marathon,
BP to Slash Green Spending, Pivot Back to Oil
Those include activist hedge fund Elliott Management, which recently took a stake in BP with a view to pushing for significant changes.“It’s a radical shift,” Chief Executive Murray Auchincloss said in an interview.
BP Looks to Hire Two More Directors Under Oil-Focused Strategy
BP is expanding its board by adding two new directors to strengthen its focus on oil and gas production and enhance shareholder returns, following its recent strategic shift.
BP to slash spending on net zero ventures as it focuses on oil and gas again
British energy company BP has confirmed it is to slash spending on green ventures and up its oil and gas production.
BP to hire two more directors as it pivots back to oil and gas
BP plans to hire two new directors to help it pivot back to oil and gas, as its chair Helge Lund responds to pressure from investors to strengthen the board. Lund wants the BP boa
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Is this the end of Big Oil’s green energy arc?
Back in 2020, British oil giant BP was positioning itself to be a leader in the energy transition, touting plans to eliminate ...