BP To Sell Oil And Gas Assets Even If Prices Rebound

BP will sell oil and gas assets to fund its ambitious low-carbon strategy even if prices improve, three unnamed sources told Reuters. A tenfold increase in investments in low carbon businesses to some $5 billion annually is among BP’s new strategic priorities for the next ten years as the supermajor shifts away from its core business and aims to become a net-zero company by 2050. In addition to the sizeable increase in low-carbon investments, BP will also suspend all future oil and gas exploration in new countries and shrink its production…