BP Cuts Dividend for First Time in a Decade

The transcript discusses the impact of climate change and the pandemic on the oil industry, highlighting a shift in strategy by major companies like BP. The focus is on reducing dividends and increasing buybacks, as well as transitioning towards low-carbon energy. The discussion also covers the role of trading in maintaining profits during market downturns, emphasizing the strategic adjustments oil majors are making to adapt to new market conditions.

What strategies are companies considering to adapt to the energy transition?

What was the market's reaction to the dividend cut mentioned in the text?