The Times
There are no calls to break up BP’s ‘cash machine’, says Bernard Looney
Emily Gosden: Wednesday, November 03 2021, 12.01 amBP is not facing calls to break itself up, such as those aimed at Royal Dutch Shell, its boss has said.
Bernard Looney said that the energy transition required integrated companies that could use oil profits to fund green investment.
He said that BP was a “cash machine” after the oil price soared in the third quarter, helping it to deliver underlying net profits of $3.3billion, up from only $86 million in the same period last year and beating forecasts of $3.1 billion.