How BP and Shell are charting new energy trajectories, part 1

The pursuit of new oil and gas growth opportunities by European companies highlights the way forward for the two majors. In this first of a two-part article, we look at BP

BP and Shell have much in common. Both addressed the outcry over moves to put climate sustainability over economic sustainability with new leadership and made a step-change in spending priorities. Both are also now playing catch-up with their peers. The two majors have both pivoted back to fossil fuels after a brief period spent focusing more on the energy transition in the early 2020s. The renewed commitment to oil and gas is evident in the ways they are now approaching their pursuit of growth. While there have been certain differences in their approaches, they have moved largely in parallel and it is perhaps no surprise speculation around a potential merger refuses to go away. Both compani