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 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 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).
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 shifts course, boosting fossil fuel investments and cutting renewables
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 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.
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 fundamental strategic reset.
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.
Grist on MSN2d
The fossil fuel industry is trying to keep buildings hooked on gas. Here’s how.
Drawing from an InfluenceMap database that tracks corporate engagement on climate policies, researchers found that fossil ...
A Mining Billionaire’s Case for Ditching Fossil Fuels
Andrew Forrest is on a crusade to convince investors, employees, and other CEOs that going green is worth the risks ...
EU says energy plan could cut 45 billion euros off fossil fuel import bill
Plans due to be published by the European Commission on Wednesday could shave 45 billion euros ($47.3 billion) off the EU's ...
Exclusive: Russia Making Billions From Fossil Fuels Despite Sanctions
Russia's fossil fuel exports generated more than $250 billion in revenue in the third year of its war in Ukraine.
Countering Legal Roadblocks: Trump’s Vision For Energy Gains Momentum
The National Energy Dominance Council provides a very different vision of American energy leadership compared to the nonstop ...
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 ...
BP to ditch renewables goals and return focus to fossil fuels
STORY: Sources say BP's chief executive is to scrap a target to increase renewable generation 20-fold by 2030.And will ...