BP to Slash Green Spending, Pivot Back to Oil
Those include activist hedge fund Elliott Management, which recently took a stake in BP with a view to pushing for significant changes.“It’s a radical shift,” Chief Executive Murray Auchincloss said in an interview.
BP to splash £7.9bn on fossil fuel spending and slash green energy investment
The British oil major committed to spending more on oil and gas exploration and production, and to selling $20 billion of under-performing assets in a major strategic overhaul.
BP’s going back to petroleum as it plans more oil spending and production
Embattled oil major BP on Wednesday unveiled what it billed as a strategic reset, planning to increase oil and gas investment while reducing outlays for greener fuels.
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.
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 signs $25bn deal to redevelop Iraq’s oil and gasfields as it slashes investments in renewable energy
BP signs $25bn deal to redevelop Iraq’s oil and gasfields as it slashes investments in renewable energy - BP previously ...
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 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 ...
devdiscourse2h
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 ...
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 ...
British energy leading company set to reverse pledge to reduce oil, gas production
Struggling British energy company BP is set to reverse its pledge to reduce oil and gas production and will refocus on fossil ...
devdiscourse2h
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 ...
Global Witness59m
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 ...