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.
AOL5h
BP doubles down on oil and gas, cuts renewable investments in strategy reset
Under its new plan, BP intends to announce up to $20 billion in divestments by 2027. That includes a strategic review of its ...
BP Boosts Oil and Gas Spending as Energy Giant Pivots From Low-Carbon Focus
BP said it would increase its oil and gas investments to about $10 billion a year as it pivots away from its low-carbon ...
BP turns back to fossils, to increase annual oil, gas investment to $10 bn
The oil major slashed planned annual investment in transition businesses by more than $5 billion than its previous forecast, ...
devdiscourse4h
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 ...
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 ...
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 ...
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 ...
Upstream1h
'Too far, too fast': BP reveals strategy reset
Chief executive Murray Auchincloss has succumbed to pressure from shareholders to reduce BP' exposure to the lower margin ...
Upstream4h
BP share price falls as supermajor reveals ‘fundamental strategy reset’
Chief executive Murray Auchincloss has succumbed to pressure from shareholders to reduce BP' exposure to the lower margin ...
eNCA1h
BP ditches climate targets in pivot back to oil and gas
BP will increase oil and gas investment to around $10 billion per year, making up two-thirds of capital expenditure, it added ...
BP Said to Plan Castrol Sale, Ditch Plan to Cut Oil Output (1)
BP Plc is set to announce a potential sale of its lubricants business and abandon plans to cut oil and gas output as it embarks on a shift away from renewable energy amid pressure from activist ...