BP, ExxonMobil Provide A Contrast In Energy Transition Strategies

Houston Chronicle via Getty Images The new internal strategy shift is a reversal from the aggressive investments in both onshore and offshore wind projects invoked by previous CEO Bernard Looney throughout his tenure, which began in February, 2020 and ended last December. BP's ambitious plans for wind developments offshore the US Atlantic coast ran into severe profitability issues thanks to rapid inflation and supply chain issues. Since that time, BP peer companies like ExxonMobil, Chevron, Equinor, TotalEn ...