George Hay
4 minute read
BP-branded gifts are displayed at an event in London, Britain, February 12, 2020. REUTERS/Toby Melville
Bernard Looney must be feeling pretty smug. Since proudly unveiling his plan to pivot the UK oil group away from fossil fuels last September, the BP (BP.L) chief executive has watched the companyâs share price underperform European and American rivals. Following the triple whammy that has hit the oil industry in little more than a week, that discount should disappear.
Right now, itâs not totally clear how Exxon Mobilâs (XOM.N) strategy will change as a result of activist investors installing at least two new directors on the companyâs board on Wednesday. Nor is it certain whether a Dutch courtâs ruling on the same day that Royal Dutch Shell (RDSa.L), must reduce its greenhouse gases by 45% by 2030 will apply only to the 116 million tonnes a year emitted in the course of the Anglo-Dutch group s production processes, or whether t
Oil giants setbacks turn BP from tortoise to hare
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