BP’s Renewable Projects Continue To Post Losses

BP is still losing money from its renewable energy ventures, while it is selling stakes in oil and gas developments. The UK-based supermajor’s current pace of moving into clean energy could be too fast and leave it with lower profits from oil until the renewable business starts generating profits, Reuters’ reporter Ron Bousso notes in a special report. BP was one of the first European majors to pledge to become a net-zero energy business by 2050 or sooner, a week after Bernard Looney took over from Bob Dudley as BP’s chief executive…