BP to Slash Green Spending, Pivot Back to Oil
BP shares fell about 1% in morning trading in London. Auchincloss is set to lay out further details of his plan to revive the energy giant at a presentation to investors later Wed
'Reset' BP slashes $5bn a year from green spending as it goes back to petroleum
Supermajor sets out to please shareholders and stave off takeover threat as it drops iconic pledge to produce less oil by the end of the decade
BP’s going back to petroleum as it plans more oil spending and production
Embattled oil major BP on Wednesday unveiled what it billed as a strategic reset, planning to increase oil and gas investment while reducing outlays for greener fuels.
BP to up oil and gas output, slash clean energy spend in overhaul
BP plans to increase production of its more profitable oil and gas business and slash investment in cleaner energy, the British energy giant announced Wednesday to the dismay of environmentalists. BP will increase oil and gas investment to around $10 billion per year,
BP to boost oil and gas spending to $10bn as it turns its back on renewables
BP is increasing its oil and gas investment to $10bn (£7.9bn...
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.
Report: BP to drop renewable energy goals in favor of fossil fuels
BP CEO Murray Auchincloss is announcing plans to ditch the company's goal of growing renewable generation capacity 20-fold by 2030 and instead return focus to fossil fuels, Reuters reports. The goal measured growth from 2019 figures.
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 20-fold between 2019 and 2030 to 50 gigawatts.
BP takes the axe to investment in green energy in "shocking" strategy U-turn
BP takes the axe to investment in green energy in "shocking" strategy U-turn - Rethink comes five years after BP set ...
BP Refocuses on Oil Amid Elliott Pressure, But Cuts Buybacks
BP Plc announced a major pivot back to its core oil and gas business and promised to sell assets and reduce spending, but ...
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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 ...
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 ...
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BP share price falls as supermajor reveals ‘fundamental strategy reset’
Chief executive Murray Auchincloss has succumbed to pressure from shareholders to reduce BP' exposure to the lower margin ...
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BP's Bold Investment Shift: Doubling Down on Fossil Fuels
BP is set to increase its annual investments in oil and gas to $10 billion, signaling a shift back to fossil fuels under CEO ...
BP expected to scrap renewables targets as part of performance reset
Renewable output is set to become less of a priority, while the pledge to reduce oil and gas output may be officially ...
BP’s Strategy Reset: Five Things to Watch as Elliott Circles
BP Plc’s “fundamental reset” on Wednesday is the most highly anticipated strategy shift for an oil major in several years.