BP PLC has unveiled the most aggressive plans yet by a major oil company to pivot toward cleaner energy. But the revamp has so far failed to ignite enthusiasm among investors despite growing interest in renewables.
The British energy giant’s strategy—the biggest overhaul in its 111-year history—calls for a 40% reduction in oil-and-gas production over the coming decade, greater investment in low-carbon energy and a ramp-up in wind and solar power. No other major oil company has targeted such a steep decline in their main source…
