BP dials back push into renewable energy

(Nick Ansell/PA Wire)

BP Chief Executive Bernard Looney plans to dial back elements of the oil giant’s high-profile push into renewable energy and pursue a narrower green energy strategy, citing disappointing returns on the company’s renewables investments.

The change in plans comes after BP and other oil majors in the past year have showered investors with tens of billions of dollars in share buybacks and dividends. Read the full story from The Wall Street Journal.