BP plans to sell shares in flagship carbon projects as it pulls back from green agenda

Oil firm seeks to reduce stake in carbon capture and storage projects in north-east of England after schemes fail to win over shareholders

BP plans to sell stakes in two flagship carbon capture and storage projects in the north-east of England as the company continues to retreat from the green agenda.

The oil company hopes to reduce its share in the Net Zero Teesside (NZT) project which aims to develop the UK’s first gas power plant to be fitted with a controversial carbon capture system to remove its emissions.