BP Shifts Focus from Offshore Wind to Fossil Fuels Under New CEO

CEO Murray Auchincloss implements hiring freeze and halts new wind projects to boost oil and gas investments.

BP's shift comes amid investor dissatisfaction with the company's renewable energy strategies.
Auchincloss reverses predecessor's aggressive investments in offshore wind projects.
BP's market valuation remains lower than peers ExxonMobil and Chevron.
Environmental groups criticize BP's renewed focus on fossil fuels.
ExxonMobil continues to invest in low carbon solutions like carbon capture and hydrogen hubs.