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.
The energy giant said it would cut planned investments in clean energy and redirect spending toward fossil fuels.
British energy company BP has confirmed it is to slash spending on green ventures and up its oil and gas production.
BP shares fell about 1% in London trading. Auchincloss is set to lay out further details of his plan to revive the energy ...
BP (NYSE:BP) -1.4% pre-market Wednesday after unveiling its anticipated strategic reset to raise annual oil and gas spending ...
Global Witness' investigative campaigners have taken aim at BP's u-turn on its green promises with ad van billboards around ...
BP said it would increase its oil and gas investments to about $10 billion a year as it pivots away from its low-carbon ...
BP has returned to its oil and gas roots, pledging to slash spending on renewable energy as it tries to catch up with rivals, ...
BP today unveiled a massive strategy U-turn with a new emphasis on oil and gas investment and a massive downgrade of its ...
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