Waves break out at sea in front of Burbo Bank Offshore Wind Farm near New Brighton, at the mouth of the river Mersey in north-west England. – AFPPIXBritish energy major BP, aiming to achieve net zero carbon emissions by 2050, on Thursday entered the offshore wind market in a US tie-up with Norwegian peer Equinor.
BP had last month set out its plans for a greener future for the London-listed energy titan, whose finances and reputation were severely damaged by the Deepwater Horizon oil rig disaster in 2010. "Offshore wind is growing at around 20% a year globally and is recognised as being a core part of meeting the world's need to limit emissions.
Also in August, BP revealed it had plunged into a gigantic second-quarter net loss of almost US$16.85 billion as the coronavirus pandemic ravaged oil demand and prices, triggering huge asset writedowns.