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BP not facing investor calls to break up business, CEO says

BP not facing investor calls to break up business, CEO says
BP not facing investor calls to break up business, CEO says   -   Copyright  Thomson Reuters 2021
By Reuters

LONDON – BP’s investors are not calling for the energy company to be split up into separate low-carbon and oil and gas divisions, Chief Executive Bernard Looney said on Tuesday.

“Our investors do not call for a breakup of BP, that’s not an issue,” Looney told Reuters. “We’re better together.”

BP rival Royal Dutch Shell last week faced a call from an activist fund for the company to break up as it seeks to reduce its greenhouse gas emissions. Shell executives rejected the call, saying the business runs better together than apart.