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The Guardian - UK
The Guardian - UK
Business
Jillian Ambrose

BP plans to sell shares in flagship carbon projects as it pulls back from green agenda

British Petroleum Bernard Looney Oil Meg ONeill England NEP
BP tanker with man in green hard hat climbing access ladder
The Net Zero Teesside and Northern Endurance Partnership projects were seen as ‘the right thing for the world’ by Bernard Looney, BP’s former chief executive. Photograph: Roger Bamber/Alamy

BP plans to sell stakes in two flagship carbon capture and storage projects in the north-east of England as the company continues to retreat from the green agenda.

The oil company hopes to reduce its share in the Net Zero Teesside (NZT) project, which aims to develop the UK’s first gas power plant to be fitted with a controversial carbon capture system to remove its emissions.

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