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 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 green energy spending and turns back towards fossil fuels
The move follows pressure from some investors to boost profits at the firm, but has also angered environmental groups.
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 Murray Auchincloss. The company is reviewing its Castrol business and aims for $20 billion in divestments by 2027,
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 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 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 scraps renewables target, returns to oil and gas in strategy reset
The move comes in response to pressure from investors, notably from activist hedge fund Elliot management. View on euronews ...
BP to ‘Fundamentally Reset’ Strategy in Shift Back to Oil and Gas
The energy giant said it would cut planned investments in clean energy and redirect spending toward fossil fuels.
BP to slash spending on net zero ventures as it focuses on oil and gas again
British energy company BP has confirmed it is to slash spending on green ventures and up its oil and gas production.
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Energy Giant Backpedals On Green Goals, Plans To Shell Out Billions On Oil And Gas
European energy company BP announced Wednesday that it is cutting back on green energy goals and is instead refocusing on ...
BP to Slash Green Spending, Pivot Back to Oil
BP shares fell about 1% in London trading. Auchincloss is set to lay out further details of his plan to revive the energy ...
BP announces boost in oil, gas production after falling profits
Petroleum giant BP said on Wednesday that it plans to boost its annual oil and gas spending to $10 billion through 2027 as ...
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Global Witness billboards highlight BP’s climate backtracking to investors
Global Witness' investigative campaigners have taken aim at BP's u-turn on its green promises with ad van billboards around ...
BP Just Pulled a Massive U-Turn--Oil Is Back, and Investors Are Watching Closely
The energy giant is betting big on fossil fuels again, slashing green investments and setting the stage for a major shake-up.