BP to Slash Green Spending, Pivot Back to Oil
BP shares fell about 1% in morning trading in London. Auchincloss is set to lay out further details of his plan to revive the energy giant at a presentation to investors later Wed
'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’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 slashes net-zero spending by nearly £4bn in renewed oil and gas focus
BP slashes net-zero spending by nearly £4bn in renewed oil and gas focus - The fossil fuels giant said it would increase oil and gas investment by about 20% to £7.9 billion a year as part of a major strategy update.
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 to drop renewables goals and shift focus back to fossil fuels
BP CEO Murray Auchincloss will tell investors the company is abandoning its target to grow renewable generation capacity 20-fold between 2019 and 2030 to 50 gigawatts.
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 ...
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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 ...
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 ...
BP takes the axe to investment in renewables in huge 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 ...
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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 ...
Oil major BP boosts annual fossil fuel spending to $10 billion in strategy reset
British oil major BP on Wednesday announced plans to increase annual oil and gas investment to $10 billion as part of a ...
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BP share price falls as supermajor reveals ‘fundamental strategy reset’
Chief executive Murray Auchincloss has succumbed to pressure from shareholders to reduce BP' exposure to the lower margin ...
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 ...