BPs Oil Exploration Team Swept Aside in Climate Revolution

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Nothing escapes the winds of change now sweeping through BP, not even the exploration team that for more than a century powered its profits by discovering billions of barrels of oil.

Its geologists, engineers and scientists have been cut to less than 100 from a peak of more than 700 a few years ago, company sources told Reuters, part of a climate changedriven overhaul triggered last year by CEO Bernard Looney.

The winds have turned very chilly in the exploration team since Looneys arrival. This is happening incredibly fast, a senior member of the team told Reuters.

Hundreds have left the oil exploration team in recent months, either transferred to help develop new lowcarbon activities or laid off, current and former employees said.

The exodus is the starkest sign yet from inside the company of its rapid shift away from oil and gas, which will nevertheless be its main source of cash to finance a switch to renewables for at least the next decade.

BP declined to comment on the staffing changes, which have not been publicly disclosed.

Reuters spoke to a dozen former and current employees of BP who highlighted the massive challenges the company faces in its transition from fossil fuels to carbon neutrality.

Looney made his intentions clear internally and externally by lowering BPs production targets and becoming the first oil major CEO to promote this as a positive to investors seeking a longterm vision for a lowercarbon economy.

BP is cutting some 10,000 jobs, around…

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