New Delhi, July 23 -- Summary
BP has sold its US offshore wind power business, marking a shift back to its core oil and gas operations.
The move comes as renewables have not been profitable enough for BP, and amid pressure from the Trump administration, which has been critical of wind power.
This decision reflects BP's return to familiar territory after its unsuccessful attempt to transition to renewables.
BP, one of the oil and gas 'supermajors', has sold its onshore wind power business in the United States. It is also reopening its offices in Libya, going back to its core oil and gas business in what is seen as a step back by Big Oil on renewables.
According to a recent media report, BP has been prompted to take the step due to two ...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.