The legacy oil and gas giant fell 10 spots on the Global 500 this year as COVID-19 ripped through the energy industry, decimating profits. The company lost $20.3 billion in 2020, cut its dividend for the first time since the disastrous Deepwater Horizon spill a decade earlier, and announced it would lay off 10,000 employees. Meanwhile, it was a landmark year for the company’s climate goals: CEO Bernard Looney announced BP would target net-zero by 2050, and he started laying out how to get there—including cutting oil and gas production 40% by 2030.
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