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BP to Maintain Carbon Emission Level to Combat Global Warming

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BP p.l.c. BP intends to maintain a steady emission of carbon without compromising production growth. In fact, the company plans to combat global warming and focus more on clean energy, following consistent requests from investors.

The British energy major projects net emission of greenhouse gas to remain steady between 2015 and 2025.

Producing higher natural gas and restricting methane leakage is likely to help the integrated energy major considerably lower carbon dioxide emission through 2025 by roughly 3.5 million tonnes. To focus more on the production of cleaner energy, BP is planning to allocate roughly $500 million annually toward solar and wind plants to generate more renewable energy.

The initiative of BP to fight climate follows that of Royal Dutch Shell plc RDS.A. In November 2017, Shell announced its plan to lower emission by almost 50% through 2050.

BP believes that the world will continue to demand more energy. Along with higher energy need, investors also want companies to lower greenhouse emissions. Hence, the latest by BP reflects the firm’s commitment to embrace changes and raise shareholder’s value.

BP has a strong portfolio of upstream projects that are expected to fetch significant cash flows. Over the past year, the stock has rallied 23%, outperforming the industry’s16.2% rise.

 

BP carries a Zacks Rank #3 (Hold). A few better-ranked players in the energy space include Mammoth Energy Services, Inc. TUSK and Flotek Industries, Inc. FTK. Both the stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Mammoth Energy is expected to witness year-over-year surge of 246.5% in 2018 earnings.

Flotek Industries is expected to see year-over-year earnings growth of 557.1% in 2018.

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Flotek Industries, Inc. (FTK) : Free Stock Analysis Report
 
BP p.l.c. (BP) : Free Stock Analysis Report
 
Royal Dutch Shell PLC (RDS.A) : Free Stock Analysis Report
 
MAMMOOTH ENERGY (TUSK) : Free Stock Analysis Report
 
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