BP shares hit even after unveiling new climate change plan       

At the heart of BP’s reinvention is a reduction in oil and gas production and simultaneous growth in its renewables business. File picture

Just a week after revealing its plan to turn itself into a clean-energy giant, BP watched its share price drop to a 25-year low.

Bernard Looney, chief executive and his new management team gave over 10 hours of presentations over three days last week, in a bid to show the world that the oil and gas giant could adapt to a low-carbon future without sacrificing returns.