The Ongoing Transformation Of ‘Big Oil’

When last year BP vowed to reduce its oil and gas output by 40 percent by 2030 as it shifts to renewable energy, it came as a shock to many, pushing the company's share prices down sharply. Yet since then, pressure on Big Oil to stop doing what it does has only been growing. And Big Oil is responding. The Houston Chronicle's Paul Takahashi in a recent article detailed supermajors positioning to effectively move away from their core business and into low-carbon energy. Takahashi noted several examples of Big Oil partnering with majors from other…