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 embraces oil and gas, snubs renewables in corporate reset
The British petroleum giant laid out plans Wednesday to boost spending on fossil fuels as it dials back renewable energy plans.
BP doubles down on oil and gas, cuts renewable investments in strategy reset
BP announces its big "reset" on Wednesday, and Wall Street expects a pivot away from renewables and a doubling down on oil and gas.
Oil major BP to slash renewable spending and double down on fossil fuels 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 fundamental strategic reset.
BP shifts more to oil and gas production in a move to focus less on renewables
BP, the British Oil major, said it is refocusing the company on its core oil and gas business and reducing investments in clean energy.
Oil giant BP cutting green investment
On Wednesday the company said it now plans to increase investment in oil and gas exploitation by 20 percent, to around $10 billion a year, while cutting investment in renewable energy by more than $5 billion a year, to around $1.5 billion.
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 announces boost in oil, gas production after falling profits
Petroleum giant BP said on Wednesday that it plans to boost its annual oil and gas spending to $10 billion through 2027 as part of the company's reset after recent lackluster economic performance.
BP cuts investment in clean energy and boosts oil and gas in major strategy shift
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 shareholder returns.
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 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.
Five years on from BP's ambitious pledge, the climate has changed in every sense
Boss Murray Auchincloss's case is that oil and gas will be in "robust" global demand until 2035, and his message to ...
Museums defend BP sponsorship despite backlash against cuts to climate change funding
Museums defend BP sponsorship despite backlash against cuts to climate change funding - The British Museum’s relationship ...
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British Museum and Science Museum under increasing pressure to scrap BP sponsorship after oil giant drops climate targets
The two remaining British museums still receiving sponsorship money from the fossil fuel company BP have been urged to end ...