Oil giant BP shutters its corporate venture arm after 20 years

BP is closing its corporate venture arm, BP Ventures, after nearly 20 years of operation. The decision to shut down the venture arm comes amid reportedly lackluster returns on its investments. BP Ventures was established to invest in emerging technologies and startups, but its performance has not met expectations. The closure marks a significant shift in BP's investment strategy, ending a two-decade-long experiment in corporate venturing.

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