BP criticized for plans to spend more on oil and gas projects than on green energy

British oil and gas corporation BP has been criticized for planning to spend twice as much on oil and gas projects as it does on renewable energy investments next year. This is reported by The Guardian newspaper.

The publication writes that BP intends to invest $7.5 billion in hydrocarbons annually from 2023 to 2025. The amount of $3-5 billion a year is allocated for the development of «low-carbon» energy projects. In the future, this figure may increase to $4-6 billion.

“A company's spending can tell a lot about its priorities. It's amazing that in the midst of the climate crisis, BP plans to invest several billion more in fossil fuels than in clean renewables,” Friends of the Earth spokesman Mike Childs said.

One of the leaders of the UK Green Party, Adrian Ramsey, noted that, despite statements about their commitment to the environmental agenda, oil and gas corporations «remain determined to make as much money as possible from oil and gas.» He appealed to the authorities with a call to put pressure on large companies.

Source: Nebit-Gaz