OIL giants Shell and BP stood accused of “greenwashing” today after a new report found they have failed to move “beyond petroleum” despite promises to invest in renewables.

Greenpeace commissioned political scientist Dr Steffen Bukold to analyse the annual reports of a dozen European companies to compare investments in and production from fossil fuels and renewables, including Shell and BP.

The Greenpeace study argues that the two firms’ recent cash bonanzas were not directed towards expanding green energy, which formed just 0.02 per cent and 0.17 per cent of their energy outputs in 2022 respectively.