BP pulls out of three U.S. petroleum lobby groups in climate policy split

BP said it will leave three U.S. petroleum industry trade groups, including the country’s main refining lobby, due to differences over climate change policy. The decision comes after BP Chief Executive Officer Bernard Looney, who took office earlier this month, set one of the oil sector’s most ambitious targets for curbing carbon emissions, with a vow to “re-invent” the 111-year old company in the face of the climate challenge. The world’s top oil and gas companies are under heavy pressure from investors and climate activists to meet the 2015 Paris climate goal of limiting global warming to below 2 degrees Celsius from pre-industrial levels.