Profits

Oil majors drag feet on renewables despite bumper profits

Most of the capex rises that have been announced this year will go to hydrocarbon rather than renewables investments.

Oil, gas majors fail to direct bumper profits to energy transition

BP saw record Q2 earnings on the back of high oil and gas prices but like its peers much of the surplus will go to share buybacks or dividends, with little extra ear-marked for energy transition projects or new oil and gas output.