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BP to drop renewable energy goals in favor of fossil fuels

Bloomberg L.P. · 2h

BP Refocuses on Oil Amid Elliott Pressure, But Cuts Buybacks

BP Plc announced a major pivot back to its core oil and gas business and promised to sell assets and reduce spending, but also slowed the pace of its crucial share buybacks.

Business Insider · 1d

BP Will Reportedly Cut Renewable Energy Goals Amid Market & Investor Pressure

A new report claims BP (BP) has lost interest in renewable energy as it refocuses on its fossil fuel business. Insider sources told Reuters the

Chron on MSN · 18h

Report: BP to drop renewable energy goals in favor of fossil fuels

BP CEO Murray Auchincloss is announcing plans to ditch the company's goal of growing renewable generation capacity 20-fold by 2030 and instead return focus to fossil fuels, Reuters reports. The goal measured growth from 2019 figures.

BP to Slash Green Spending

The Wall Street Journal on MSN · 19m

BP to Slash Green Spending, Pivot Back to Oil

BP shares fell about 1% in London trading. Auchincloss is set to lay out further details of his plan to revive the energy giant at a presentation to investors later Wednesday. The

Hosted on MSN · 8m

BP to slash spending on net zero ventures as it focuses on oil and gas again

British energy company BP confirmed Wednesday that it would slash spending on green ventures and increase its oil and gas production, a change in direction that it hopes will bolster its flagging share price but has been met with incredulity from climate action campaigners.

The Economic Times on MSN · 10m

BP turns back to fossils, to increase annual oil, gas investment to $10 bn

The oil major slashed planned annual investment in transition businesses by more than $5 billion than its previous forecast, to between $1.5 billion and $2 billion per year

12d

Elliott builds BP stake of nearly 5%, pushes for big divestments, source says

Activist investor Elliott Management has built a near 5% stake in BP and is pushing the oil company to take radical action to ...

1d

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.

1d

BP to drop pledge to cut oil and gas output amid Elliott battle, FT reports

BP (BP) will do away with its pledge to reduce oil and gas output and announce at least one major divestment at its investor day on Wednesday ...

Crude Oil Prices12d

Elliott Wants Big Asset Sales at BP After Building $4.75-Billion Stake

Activist investor Elliott Management has built a nearly 5% stake in BP and is pushing for major asset sales and strategic ...

20h

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 ...

7d

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 ...

1don MSN

BP expected to scrap renewables targets as part of performance reset

Renewable output is set to become less of a priority, while the pledge to reduce oil and gas output may be officially ...

2d

BP faces ‘existential crisis’ after ruinous attempt to go green

It was meant to be the moment when one of Britain’s most powerful companies broke decisively with its fossil fuel past.

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