BP backtracks further on green policies with new Egypt gas venture

BP put further distance between itself and the greening policies of ex-chief executive Bernard Looney with a natural gas joint venture in Egypt. Abu Dhabi National Oil Company is BP’s partner in the venture, the oil major said, with the UK company holding a 51% stake. BP and ADNOC originally agreed to work together on the acquisition of a 50% stake in Israeli gas producer NewMed, but the war in Gaza has put that deal on hold. Today’s move will again raise questions about BP’s commitment to its ‘greening’ pl ...