Photo: BP
Headline: New York Times, 2/11/2025
Stanley Reed writes:
Mr. Auchincloss is reserving the details of BP’s shift for a presentation to investors on Feb. 26, but analysts seem to have little doubt about its direction.
BP is likely to reduce spending on low-emissions energy technologies like wind and hydrogen and try to boost oil and natural gas production, analysts say. “We would anticipate that there will be major changes in capital allocation, particularly around lower spending in the low-carbon arena,” Alastair Syme, an analyst at Citigroup, wrote in a note to clients on Tuesday.
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