BP enjoys share bounce after unveiling plans to shift away from fossil fuels
by Jillian Ambrose from Environment | The Guardian on (#56GVE)
Despite reporting one of its worst quarterly results on record BP shares closed up 6.5%
BP has won guarded praise from climate emergency campaigners and a hefty share price bounce by unveiling new plans to shift away from fossil fuels and towards low carbon energy within the next decade.
BP revealed the energy transition strategy alongside its first dividend cut since the Deepwater Horizon oil spill, after plummeting to a record multibillion-dollar loss and slashing the value of its oil and gas assets due to the impact of the coronavirus pandemic.
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