However, once these companies realized their transition efforts were not paying off, they pivoted. One might call it a lack of a “cohesive and consistent plan.” On the other hand, one might call it flexibility in the face of a reality that has proven different than hoped for. In addition to the news about BP abandoning its production cut target for 2030, the company was also reported to be considering reducing its exposure to offshore wind at a time when fellow supermajor Shell was also dialing back its transition ambitions and another fellow supermajor, TotalEnergies, just announced a $10.5-billion oil and gas development in Suriname.
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