BP’s new CEO Murray Auchincloss has implemented a hiring freeze and halted new offshore wind projects as he shifts more focus on oil and gas amid shareholder discontent over the oil major’s energy transition strategy, Reuters’ Ron Bousso reports, citing sources at the company. Such actions are part of efforts by Auchincloss to slow down investments in big budget, low-carbon projects that are not anticipated to generate cash for years, the author notes.
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