BP shuns renewables in return to oil and gas
BP said it would increase its investments in oil and gas by about 20% to $10bn (£7.9bn) a year, while decreasing previously planned funding for renewables by more than $5bn (£3.9bn). The move comes as rivals Shell and Norwegian company Equinor have also scaled back plans to invest in green energy and US President Donald Trump's "drill baby drill" comments have encouraged investment in fossil fuels.
BP slashed planned investment in renewable energy and said Wednesday that it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and ...
The energy giant is betting big on fossil fuels again, slashing green investments and setting the stage for a major shake-up.
BP Plc announced a major pivot back to its core oil and gas business and promised to sell assets and reduce spending, but ...
BP said on Wednesday it would increase annual oil and gas investment to $10 billion, returning the focus to fossil fuels, as ...
Oil and gas giant BP wants to sell stake in Lightsource BP just four months after completing full takeover of the renewables developer. New “strategy reset” will also cut company’s investment in ...
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 is considering a potential sale of its lubricants business, Castrol, which could be worth about $10 billion in a ...
BP PLC (BP) is reportedly considering selling its lubricants division, Castrol, amid growing pressure from activist investor ...
Chief executive Murray Auchincloss has succumbed to pressure from shareholders to reduce BP' exposure to the lower margin ...
In an industry where timing is everything, BP made the right bet at the wrong time,” says one professor who has studied its ...
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