BP to Focus More on Oil and Gas in Strategy ‘Reset’
The energy giant said it would cut planned investment in clean energy and redirect spending toward fossil fuels.
BP scraps renewables target, returns to oil and gas in strategy reset
The move comes in response to pressure from investors, notably from activist hedge fund Elliot management. View on euronews
BP announces 'reset' with slashed renewables investments and $20 billion in divestments
In addition to divesting $20 billion of assets, BP plans to slash investments in renewables and boost growth elsewhere.
BP to slash spending on net zero ventures as it focuses on oil and gas again
British energy company BP has confirmed it is to slash spending on green ventures and up its oil and gas production.
BP to boost oil and gas spending by $10B, slash renewable investment in major strategy shift
BP said it would increase annual oil and gas spending to $10 billion and cut planned annual investment in energy transition businesses by more than $5 billion.
BP cuts renewable investment and boosts oil and gas in strategy shift
BP slashed planned investment in renewable energy and said on Wednesday it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and investor confidence.
BP's Bold Investment Shift: Doubling Down on Fossil Fuels
BP is set to increase its annual investments in oil and gas to $10 billion, signaling a shift back to fossil fuels under CEO Murray Auchincloss. The company is reviewing its Castrol business and aims for $20 billion in divestments by 2027,
26/02/2025 BP announces it will slash its renewable targets.
The energy giant, BP, has announced it will slash its renewable targets. And, Ukraine has struck a deal for its mineral wealth with the United States. See more episodes Programme website Copyright 2025 BBC.
BP’s going back to petroleum as it plans more oil spending and production
Embattled oil major BP on Wednesday unveiled what it billed as a strategic reset, planning to increase oil and gas investment while reducing outlays for greener fuels.
BP shifts course, boosting fossil fuel investments and cutting renewables
BP said on Wednesday it would increase annual oil and gas investment to $10 billion, returning the focus to fossil fuels, as part of CEO Murray Auchincloss' efforts to boost returns and improve financial performance.
BP turns its back on renewables
BP plans to raise oil and gas spending to $10billion a year and cut its renewable energy investments. We hear from Nick Butler, BP's former head of strategy. In Hong Kong, the city's budget has been announced including their plan to cut 10,
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BP drops climate targets in pivot back to oil and gas
Oil major BP says it has slashed planned investment in renewable energy and would increase annual oil and gas spending to ...
devdiscourse23h
BP's Strategic Shift: A Return to Roots in Fossil Fuels
BP will increase annual oil and gas investments to $10 billion under CEO Murray Auchincloss, focusing on fossil fuels to ...
Upstream14h
Iraq deal 'one of most important' BP transactions in 20 years: Auchincloss
BP will redevelop 3 billion barrels of oil equivalent across five fields in Iraq, all of which are currently operated by ...
IJR8h
Energy Giant Backpedals On Green Goals, Plans To Shell Out Billions On Oil And Gas
European energy company BP announced Wednesday that it is cutting back on green energy goals and is instead refocusing on ...
Fate of BP top brass in the balance after: Activist Elliott 'evaluating' new strategy as oil giant ditches green agenda
Activist investor Elliott was last night poring over BP’s new strategy after the energy giant admitted its rush to Net Zero ...
BP takes the axe to investment in green energy in "shocking" strategy U-turn
BP today unveiled a massive strategy U-turn with a new emphasis on oil and gas investment and a massive downgrade of its ...
BP Just Pulled a Massive U-Turn--Oil Is Back, and Investors Are Watching Closely
The energy giant is betting big on fossil fuels again, slashing green investments and setting the stage for a major shake-up.
Global Witness20h
Global Witness billboards highlight BP’s climate backtracking to investors
Global Witness' investigative campaigners have taken aim at BP's u-turn on its green promises with ad van billboards around ...