New boss Murray Auchincloss reverses move away from fossil fuels, which had weighed on company’s share price
Thehead of BP has imposed a hiring freeze and halted new offshore wind projects, in an apparent attempt to placate investors who are unhappy with the oil company’s green targets.
Murray Auchincloss – BP’s former finance chief who was appointed CEO in January after the shock departure of his predecessor, Bernard Looney, for failing to fully detail relationships with colleagues last year – is slowing down investments in big low-carbon projects such as offshore wind, in news first reported by Reuters.
Continue reading…
