British Energy Majors May Lean More On Oil And Gas To Boost Profits
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British energy majors BP and Shell are shifting focus back to traditional oil and gas to boost profits, moving away from previous renewable energy investments.
November 08, 2024 | 6:30 pm
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POSITIVE IMPACT
BP is shifting its focus back to traditional oil and gas to boost profits, moving away from renewable energy investments.
BP's strategic shift towards oil and gas is likely to improve short-term profitability, as these sectors are currently more lucrative than renewables.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Shell is returning to traditional oil and gas operations to increase profits, moving away from its previous renewable energy focus.
Shell's decision to focus on oil and gas is expected to enhance short-term profitability, as these sectors currently offer higher returns than renewables.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80