CEO Bernard Looney insisted BP is “better together” and can operate best in the energy transition as an integrated player, as he became the latest European oil supermajor boss to reject calls to carve out its growing renewables business.
Looney said “we are not hearing that call from our investors” when asked by financial analysts about the logic of splitting off its fast-emerging renewables and low-carbon business from its hydrocarbon operations to extract better value from the former amid the global shift to clean energy supplies.
