BP takes the axe to investment in green energy in "shocking" strategy U-turn - Rethink comes five years after BP set ambitious targets to cut production of oil and gas by 40% by 2030
BP set to cut renewable investment and boost oil and gas production - BP previously committed to cut oil and gas production by 40 per cent by 2030
BP Plc’s “fundamental reset” on Wednesday is the most highly anticipated strategy shift for an oil major in several years.
BP Plc is set to announce a potential sale of its lubricants business and abandon plans to cut oil and gas output as it embarks on a shift away from renewable energy amid pressure from activist investor Elliott Investment Management,
Oil and gas giant BP has again slashed its renewable energy investment and announced more funding for 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 $1b to 2bn ( £790m to £1.58bn).
BP's current price/earnings ratio is attractive, and activist involvement could unlock further value. See why I rate BP stock a buy.
(Alliance News) - BP PLC on Wednesday said it will slash renewable spending, up oil and gas investment as the company set out a plan to "fundamentally reset strategy".
BP PLC (BP) is reportedly considering selling its lubricants division, Castrol, amid growing pressure from activist investor Elliott Management
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