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.
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 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'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
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.
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BP takes the axe to investment in green energy in "shocking" strategy U-turn
BP today unveiled a massive strategy U-turn with a new emphasis on oil and gas investment and a massive downgrade of its ...
BP to slash spending on net zero ventures as it focuses on oil and gas again
British energy company BP confirmed Wednesday that it would slash spending on green ventures and increase its oil and gas ...
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 pivot back to oil, cut green spending in strategic reset but stock drifts lower
BP (NYSE:BP) -1.4% pre-market Wednesday after unveiling its anticipated strategic reset to raise annual oil and gas spending ...
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BP Refocuses on Oil Amid Elliott Pressure, But Cuts Buybacks
In a highly anticipated strategy update, BP Chief Executive Officer Murray Auchincloss scrapped a plan to pull back from oil and gas and pledged to grow production slightly instead. He also cut ...
BP cuts investment in clean energy and boosts oil and gas in major strategy shift
BP slashed planned investment in renewable energy and said Wednesday that it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and ...
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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 ...
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BP Hikes Oil and Gas Investment to $10 Billion a Year in Strategy Reset
BP has announced a major strategic reset, increasing its investment in upstream oil and gas to $10 billion annually while ...
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 ...