It’s not ESG driving Big Oil away from reserves

Output recovers: A worker operates equipment on a drilling rig near Midland, Texas. America’s shale oilfields are enjoying a resurgence that should push their production back to record levels in the next few weeks. — Reuters

AT a time when crude prices are close to their highest levels in 14 years, Big Oil is turning its back on some of its biggest reserves.

BP Plc this week announced it would sell out of the Sunrise project, a Canadian tar sands joint venture that produces about 50,000 barrels a day.