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BP ramps up oil and gas spending to $10 billion

BP ramps up oil and gas spending to $10 billion as CEO rebuilds confidence

BP said on Wednesday it would increase annual oil and gas investment to $10 billion, returning the focus to fossil fuel, as part of CEO Murray Auchincloss' efforts to boost returns and improve financial performance.

Hosted on MSN · 9h

BP to slash green investment and ramp up gas and oil

The energy giant will announce its strategy later after rivals also rowed back on green energy plans.

The Financial Times · 31m

BP to slash renewables spending in pivot back to oil and gas

BP will spend $10bn a year on producing more oil and gas, slash its spending on renewable energy and sell $20bn of assets as it tries to revive its share price under pressure from activist investor Elliott Management.

BP to drop renewable energy goals in favor of fossil fuels

Reuters · 1d

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,

Business Insider · 1d

BP Will Reportedly Cut Renewable Energy Goals Amid Market & Investor Pressure

A new report claims BP (BP) has lost interest in renewable energy as it refocuses on its fossil fuel business. Insider sources told Reuters the

Chron on MSN · 16h

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.

20mon MSN

Oil major BP boosts annual fossil fuel spending to $10 billion in strategy reset

BP on Wednesday announced plans to increase annual oil and gas investment to $10 billion through 2027 as part of a ...

31m

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 ...

17mon MSN

FTSE 100 Live 26 February: BP slashes green energy spending, miners drive index rally

Aston Martin Lagonda and shopping centre owner Hammerson are among the companies reporting today. Meanwhile, Heathrow has ...

BP22m

Growing shareholder value: a reset bp

Strategy fundamentally reset: reducing and reallocating capital expenditure, significantly reducing costs and driving ...

18h

BP to Prepare Lubricants Sale, Ditch Plan to Cut Oil Output in Strategy Review

BP Plc is set to announce a potential sale of its lubricants business and abandon plans to cut oil and gas output as it ...

22h

BP: New Bullish Catalyst In Play

BP's current price/earnings ratio is attractive, and activist involvement could unlock further value. See why I rate BP stock ...

20m

BP PLC Growing Shareholder Value: A Reset Bp

Dow Jones Newswires is a market-moving financial and business news source, used by wealth managers, institutional investors and fintech platforms around the world to identify trading and investing ...

19h

Iraq, BP agree to develop four Kirkuk fields

Iraq and oil major BP have signed a deal to redevelop four Kirkuk oil and gas fields, BP said on Tuesday, a breakthrough for ...

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BP ramps up oil and gas spending to $10 billion

BP to drop renewable energy goals in favor of fossil fuels

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