Oil major BP to slash renewable spending

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 to Focus More on Oil and Gas in Strategy ‘Reset’
The energy giant said it would cut planned investment in clean energy and redirect spending toward fossil fuels.
BP to boost oil and gas spending by $10B, slash renewable investment in major strategy shift
BP said it would increase annual oil and gas spending to $10 billion and cut planned annual investment in energy transition businesses by more than $5 billion.
BP slashes renewables investment and boosts fossil fuel production
Oil and gas giant BP has again slashed its renewable energy investment and announced more funding for greater fossil fuel production. In a further row back of climate targets the company has said renewable energy investment will fall by $5bn (£3.95bn) a year to just $1bn to $2bn (£790m to £1.58bn).
BP to ditch renewables goals and return focus to fossil fuels
STORY: Sources say BP's chief executive is to scrap a target to increase renewable generation 20-fold by 2030.And will instead return its focus to fossil fuels.BP's shares have underperformed rivals in recent years.
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 to cut renewable energy targets and focus on fossil fuels
BP is set to announce at the capital markets day that it is scaling back its 2030 renewables goal to 50GW instead of a 20-fold increase.
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 ...
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.
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.
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BP ditches climate targets in pivot back to oil and gas
LONDON: British energy giant BP launched a major pivot back to its more profitable oil and gas business on Wednesday (Feb 26) ...
BP to Slash Green Spending, Pivot Back to Oil
The struggling British energy company has seen its rivals streak ahead after it bet big on clean energy.
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BP to slash renewables investment and boost gas and oil production
BP has confirmed that it will slash spending on net-zero transition businesses while ramping up its oil and gas operations.
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 Just Ditched Its Green Pledge--Why This Energy Giant Is Betting Big on Oil Again
BP is scrapping its massive renewable energy targets and doubling down on fossil fuels--here's what it means for investors.