BP to boost oil and gas spending to $10bn as it turns its back on renewables
BP is increasing its oil and gas investment to $10bn (£7.9bn) a year as part of a net zero “reset” that involves the company slashing spending on renewables.
BP set to cut renewable investment and boost oil and gas production
BP set to cut renewable investment and boost oil and gas production - BP previously committed to cut oil and gas production by 40 per cent by 2030
BP to up oil and gas output, slash clean energy spend in overhaul
BP plans to increase production of its more profitable oil and gas business and slash investment in cleaner energy, the British energy giant announced Wednesday to the dismay of environmentalists. BP will increase oil and gas investment to around $10 billion per year,
BP slashes renewables investment and boosts fossil fuel production
Oil and gas giant BP has again slashed its renewable energy investment and announced more funding for greater fossil fuel production. In a further row back of climate targets the company has said renewable energy investment will fall by $5bn (£3.95bn) a year to just $1bn to $2bn (£790m to £1.58bn).
'Reset' BP slashes $5bn a year from green spending as it goes back to petroleum
Supermajor sets out to please shareholders and stave off takeover threat as it drops iconic pledge to produce less oil by the end of the decade
BP to Slash Green Spending, Pivot Back to Oil
The struggling British energy company has seen its rivals streak ahead after it bet big on clean energy.
BP boosts fossil fuel spending to $10 billion, sets $20 billion divestment target
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 to slash green investment and ramp up gas and oil
BP is expected to announce it will slash its renewable energy investments and instead focus on increasing oil and gas production. The energy giant will outline its strategy later following pressure from some investors unhappy its profits and share price have been much lower than its rivals.
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 to slash renewables spending in pivot back to oil and gas
BP will spend $10bn a year on producing more oil and gas, slash its spending on renewable energy and sell $20bn of assets as it tries to revive its share price under pressure from activist investor Elliott Management.
BP to ditch renewables goals and return focus to fossil fuels
BP's chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil fuels, as part of a strategy shift announced on Wednesday to tackle investor concerns over earnings,
BP takes the axe to investment in green energy in "shocking" strategy U-turn
BP takes the axe to investment in green energy in "shocking" strategy U-turn - Rethink comes five years after BP set ...
BP’s Strategy Reset: Five Things to Watch as Elliott Circles
BP Plc’s “fundamental reset” on Wednesday is the most highly anticipated strategy shift for an oil major in several years.
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BP to unveil strategy shakeup amid energy transition
British energy giant BP is set Wednesday to announce a shakeup to its strategy after a difficult trading year and ...
BP: New Bullish Catalyst In Play
BP's current price/earnings ratio is attractive, and activist involvement could unlock further value. See why I rate BP stock ...
BP to Prepare Lubricants Sale, Ditch Plan to Cut Oil Output in Strategy Review
BP Plc is set to announce a potential sale of its lubricants business and abandon plans to cut oil and gas output as it ...
BP Considers Castrol Sale as Elliott Turns Up the Heat
BP PLC (BP) is reportedly considering selling its lubricants division, Castrol, amid growing pressure from activist investor ...