BP will not return to renewable power soon, CEO O’Neill tells Semafor
BP chief executive Meg O'Neill said the oil major will stay focused on oil and gas and leave solar power to specialists. Her comments follow a third quarter in which BP's profits nearly quadrupled on high oil and gas prices.
BP is unlikely to reverse its move away from renewable power generation any time soon, chief executive Meg O'Neill told Semafor. She spoke on the sidelines of the ADIPEC energy conference. O'Neill said renewable power does not fit BP's skill set. "There are people who can do utility-scale solar and make money at it," she said. "We're happy to let people who are experts in that do their thing, and we will stay focused on oil and gas." O'Neill took over in April. According to Semafor, she has focused on repairing the company's finances. A strong third quarter helped. Profits nearly quadrupled thanks to high…
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