4 h. ago BP abandons green energy drive by slashing renewables budget and ploughing extra £8bn into oil and gas

BP has faced a deluge of criticism from environmental activists after it announced plans to slash green energy spending and bump up its oil and gas production instead.

Economics

5 h. ago BP share price: Energy giant to increase oil and gas production

BP is to ramp up its oil and gas production while cutting its investments in renewables.

Politics

5 h. ago BP axes £4bn of net zero spending in renewed oil and gas push

BP said it still hopes to become a net-zero firm but will only spend up to £1.6bn a year on projects aimed at the energy transition, representing a significant cut.

Economics

7 h. ago BP takes the axe to investment in green energy in "shocking" strategy U

Rethink comes five years after BP set ambitious targets to cut production of oil and gas by 40% by 2030

Events

7 h. ago BP to slash renewables spending in pivot back to oil and gas

Shift follows pressure from activist hedge fund Elliott Management

Politics

8 h. ago BP set to cut renewable investment and boost oil and gas production

BP previously committed to cut oil and gas production by 40 per cent by 2030

Politics

51 h. ago BP expected to scrap renewables target in shift back to fossil fuels

Goal of increasing renewable energy generation 20-fold to be ditched, shareholders to be told this weekBP is expected to ditch a target to ramp up renewable energy generation by 2030 as part of a shift back towards fossil fuels when it presents its strategy to investors this week.The chief executive, Murray Auchincloss, is poised to tell shareholders that the oil and gas company is scrapping its target to increase renewable generation 20-fold between 2019 and 2030 to 50 gigawatts, Reuters reported. Continue reading...

Events