Electric vehicles will spur demand for gas for use in power plants, BP has claimed, as it tried to shrug off concerns over their impact on its oil business. The energy giant faced questions over the threat it faced from the electrification of transport at its annual general meeting yesterday, where it avoided a repeat of last year’s pay revolt. More than 97 per cent of shareholders backed both its 2016 pay report, which cut chief executive Bob Dudley’s remuneration 40 per cent to $11.6 million, and an overhauled pay policy. Shareholders expressed concern over the risk electric vehicles could pose to its business, following predictions from economists at Stanford that the sale of petrol vehicles would cease as soon as 2025.
Times 18th May 2017 read more »