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Environment

Reuters details how BP’s oil exploration team swept aside in climate revolution

Nothing escapes the winds of change now sweeping through BP, not even the exploration team that for more than a century powered its profits by discovering billions of barrels of oil. Its geologists, engineers and scientists have been cut to less than 100 from a peak of more than 700 a few years ago, Reuters sources said, part of a climate change-driven overhaul triggered last year by CEO Bernard Looney. In an insightful report, Reuters details how the exodus is the starkest sign yet from inside the company of its rapid shift away from oil and gas, which will nevertheless be its main source of cash to finance a switch to renewables for at least the next decade.

Article Tags
Topics of Interest: Environment
Type: Reuters Best
Sectors: Commodities & Energy
Regions: Europe
Countries: England
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
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