BP vs. Total: Which Oil Company Is Better Positioned for a Green Energy Transition?

European oil giants BP (NYSE: BP) and Total (NYSE: TOT) have both taken stands on clean energy, with each pledging its support for alternatives to oil. However, there's a notable difference in the business trajectories these integrated energy giants are taking. Here's a look at what the companies are doing, and what it could mean for investors.

In August, BP cut its dividend in half. For dividend investors that was terrible news, but it was, to some degree, a sign of the times. The economic closures used to slow the spread of COVID-19 earlier in 2020 led to a massive drop in demand for oil and natural gas. With excess supply piling up in storage, energy prices plunged, and BP's top and bottom lines went along for the ride. However, there was more to this cut than meets the eye.

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