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Oil shareholders for renewables exploration

More than 100 shareholders in oil giant BP have formed a group that intends to pressure the company to shift away from oil and gas exploration and towards expansion of renewable energy activities, says Greenpeace International. Shareholders Against New Oil Exploration plans to use its shareholder status to question the company's strategic investment plans. In 1997, BP spent £4.8 billion (EUR 7.3 billion) on oil exploration and development, while spending £15 million on renewable energy, Greenpeace reports.

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