BP Effectively Ditches "Beyond Petroleum" Slogan
"When we use the words beyond petroleum, it does not mean we are pulling out of oil, merely that we are taking a broad vision of the energy business," its Chairman Peter Sutherland said in response to demands to set an exit strategy to phase out the use of fossil fuels.
Chief Executive Sir John Browne also told the company's annual meeting of share-holders in London Thursday, that far from giving up oil, the slogan meant BP were "giving up the old mindset, the old thinking that oil companies had to be dirty, secretive and arrogant."
According to British dailies Friday, the BP chiefs faced a "three-hour harangue" by environmentalists and human rights campaigners at the meeting, while outside, demonstrators, led by the free tibet campaign, protested against the company's investment in Petrochina.
Greenpeace accused Britain's biggest company of saying it was going "beyond petroleum" but was "putting more and more money behind oil and gas."
Share-holders at the meeting endorsed restoring the company's corporate name back to BP, dropping Amoco, which was added as a suffice after taking over the U.S. company in 1998. The conglomerate has since bought Arco and Burmah Castrol, according to IRNA.