British oil giant BP withdraws from renewable energy

Contrary to some of its competitors, the group has announced its refocusing on oil and gas.

BP will sell its onshore wind operations in the United States. This transaction, the value of which has not been disclosed, involves ten wind farms in seven US states. The deal is expected to be finalized by the end of the year.

While this is a major strategic move for the company, it's hardly surprising. In February 2025, BP announced that it was abandoning its climate strategy and returning to its core business of extracting and refining oil and gas production.

Management claims the group is no longer best placed to ensure the development of its wind farm in the United States. It believes it has been overly ambitious, having seen too much in relation to profitability that is still too low. " We have gone too far too fast," asserts the head of BP's low-carbon energy division.

By refocusing its business on oil and gas production, the British giant hopes to boost its flagging profits and, above all, give itself room to redistribute dividends to shareholders who are fiercely opposed to decarbonization projects, which they consider unprofitable. To the great dismay of environmental organizations, BP has clearly made its shareholders' choice.

And this comes at a time when rumors are rife, including that of a takeover of BP by its compatriot Shell, which has just formally denied this. According to industry experts, the sale of its wind farms in the United States could bring BP a large share of the $20 billion (around €17 billion) in asset sales it is planning. BP is not the only oil group to backtrack on its climate targets. The other British company, Shell, is displaying the same ambitions. In the United States, Exxon and Chevron are on the same page, pushed by US President Donald Trump.

It's worth noting that the United States has become the world's leading oil producer, surpassing the Persian Gulf countries, thanks in particular to shale oil. Trump doesn't want to give up this leadership for anything. As for the French flagship TotalEnergies, without abandoning its hydrocarbon business, the multinational continues to invest massively in electricity. It intends to be among the world's top five producers of renewable electricity by 2030.