Oil major BP to slash renewable spending

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 Focus More on Oil and Gas in Strategy ‘Reset’
The energy giant said it would cut planned investment in clean energy and redirect spending toward fossil fuels.
BP slashes ‘net zero’ renewable energy spending by $5 billion, turns to fossil fuels: What’s behind the strategy shift?
BP said it will reduce its spending on net zero transition businesses by $5 billion a year to up to 2 billion. BP will increase its oil and gas production investments by about 20 per cent to $10 billion.
Exclusive: BP to ditch renewables goals and return focus to fossil fuels
BP's chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil fuels, as part of a strategy shift announced on Wednesday to tackle investor concerns over earnings,
Report: BP to drop renewable energy goals in favor of fossil fuels
The Houston oil giant is abandoning its goal of growing its renewable generation capacity 20-fold by 2030, Reuters reports.
BP poised to abandon renewable goals and return focus to fossil fuels - Reuters
BP will scrap its target to increase renewable generation 20-fold by 2030 and return its focus to fossil fuels, as part of a strategy shift to be announced this week.
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'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 improve financial performance. Investment in transition businesses will be reduced.
BP to splash £7.9bn on fossil fuel spending and slash green energy investment
The British oil major committed to spending more on oil and gas exploration and production, and to selling $20 billion of under-performing assets in a major strategic overhaul.
BP to ditch renewables goals and return focus to fossil fuels
BP's chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil fuels, as part of a strategy shift announced on Wednesday to tackle investor concerns over earnings,
How energy giant BP went from eco poster child to possible takeover target
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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.
BP Takes A Step Back, Aims For Profit As Oil Company Abdicates Its Green Transition Plans
The company has abandoned its plan to transition to greener energy resources; instead, it has decided to invest more in ...
BP Just Ditched Its Green Pledge--Why This Energy Giant Is Betting Big on Oil Again
BP is scrapping its massive renewable energy targets and doubling down on fossil fuels--here's what it means for investors.
BP to ditch renewable energy targets in effort to boost earnings
British oil giant BP reportedly will announce plans to abandon its renewable generation goals this week in an effort to boost ...
BP axes £4bn of net zero spending in renewed oil and gas push
BP said it still hopes to become a net-zero firm but will only spend up to £1.6bn a year on projects aimed at the energy ...