But as climate activists, investors, banks and some governments raise pressure on the industry to reduce emissions to help cool the planet, European oil firms are changing tack and pledging to invest more in renewable energy sources.“As we look at the outlook for BP over the next few years and as we see production declining by 40% it is clear we no longer need exploration to fund new growth,” Looney said this week. “We will not enter new countries to explore.
“In Iraq, the rates of returns are quite low. That fits into that profile, with high greenhouse gas emissions, they would want to exit that,” he said. At the moment, such a shift might be attractive to BP investors demanding the company move away from fossil fuels, but analysts say they should be prepared for lower margins.
even if. IF oil prices rally !!!
Why did they leave them stranded?
LiveSquawk ronbousso1 dmitryZ_reuters Exactly why oil prices will rip higher...
ronbousso1 dmitryZ_reuters Crude prices are back over $40.-/barrel, what more does he want, a three-legged ballerina?
ronbousso1 dmitryZ_reuters Boo hoo.. What's their angle with this story? Bailout money? More government subsidies?
ronbousso1 dmitryZ_reuters Who to?
ronbousso1 dmitryZ_reuters Great. No more oil spills in the Gulf.
ronbousso1 dmitryZ_reuters
ronbousso1 dmitryZ_reuters That way they can blame lack of profits on transition to renewables over the next 10-50 years
They should invest in my cannabis pug delivery service. Right now it's still a seed & one pug, but I plan for more & tiny rickshaws hauling stinky bud.
Sell at a discounted price?
Hahahahaha oil price rally hahahahaha
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