BP CEO plans sale of some oil projects to hit climate target

BP Plc’s CEO plans to sell some oil projects and curb the development of others to align its business with the Paris accord, the latest sign climate concerns are starting to impact the investment decisions of the world’s largest fossil fuel producers.

Photo: Lucy Nicholson/Reuters/Ritzau Scanpix

BY KELLY GILBLOM, BLOOMBERG NEWS

Senior BP executives met within the last few days to discuss how to cut carbon as it grapples with a shareholder resolution requiring the company to explain how its spending is aligned with Paris, Chief Executive Officer Bob Dudley said on a Wednesday conference call organized by JPMorgan Chase & Co.

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