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LONDON – BP slashed planned investment in renewable energy and said on Feb 26 that it would increase annual oil and gas spending to US$10 billion (S$13.4 billion), in a major strategy shift ...

Oil and gas giant BP wants to sell its stake in Lightsource BP just four months after completing a full takeover of the renewables developer, as a part of a new “strategy reset” will also cut ...

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 ...

BP will boost investment in oil and gas while walking back a push for more renewable output, the British oil and gas multinational announced on Wednesday. The firm said it would increase oil and ...

LONDON—BP BP0.32%increase; green up pointing triangle said it would boost oil-and-gas production and sharply cut investments in clean energy, pivoting back to fossil fuels in a bid to revive its ...

Copyright 2025 The Associated Press. All Rights Reserved. A sign at a BP petrol station in London, Feb. 7, 2023. British energy giant BP has confirmed it is to slash ...

Under Auchincloss’ predecessor, Bernard Looney, BP pledged in 2020 to cut oil and gas output by 40% while rapidly growing renewables by 2030. BP lowered the reduction target to 25% in 2023.

BP has announced it will "reset" its ethos by being "selective" with investment for electric vehicle charging, as well as the rollout of biogas and biofuels. The British fossil fuel giant announced it ...

BP has released what it calls its reset, with a renewed focus on oil and gas, reallocated capital and more cost cutting. All of this is aimed at driving shareholder returns in the long term.