EnergyWatch

BP on irreversible green course

British Petroleum has hit the 'reset' button on large parts of its commercial basis and will end up a changed company – even if oil prices should suddenly return to their former heights. The firm brought its transformation to life, says analyst.

Photo: BP PR

The name is the same: British Petroleum (BP), which nicely illustrates the basis for one of the world's very largest oil companies. At least for a little while yet.

When BP presented its latest interim report on Tuesday, the company drew attention by saying it would reduce its enormous oil and gas output by 40 percent toward 2030.

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