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294 Oil Giant BP is Killing 18 Hydrogen Projects, Chilling the Nascent Industry

Slashdot
msmash @ Slashdot · 11/05/2024 13:50 EDT

Oil Giant BP is Killing 18 Hydrogen Projects, Chilling the Nascent Industry

An anonymous reader shares a report: Tucked inside a 32-page earnings report, oil and gas giant BP revealed it was killing 18 early-stage hydrogen projects, a move that could have a chilling effect on the nascent hydrogen industry. The decision, along with the sale of the company's U.S. on-shore wind power operations, will save BP $200 million annually and help boost its bottom line. The hydrogen industry, which has relied on oil and gas companies both financially and through lobbying efforts, is preparing.

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