BP is reducing its equity in two major UK carbon capture and storage initiatives, Net Zero Teesside and the Northern Endurance Partnership. This move signals a strategic shift away from the aggressive green agenda established by previous leadership, as the company refocuses on its core oil and gas operations. The divestment comes as BP reviews its global portfolio and faces a challenging regulatory environment in the UK. These projects aim to create industrial clusters that capture emissions from power plants and transport them for permanent storage under the North Sea.
