2 h. ago BP slammed as it ramps up oil and gas cash and slashes investment in green energy

Campaigners said the oil giant was committing a 'conscious act of climate vandalism' as it ditched targets to reduce fossil fuel production.

Economics

3 h. ago BP slashes green energy spending and turns back towards fossil fuels

The move follows pressure from some investors to boost profits at the firm, but has also angered environmental groups.

Events

5 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

6 h. ago 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

Economics

8 h. ago FTSE 100 Live 26 February: BP slashes green energy spending, miners drive index rally

Aston Martin Lagonda and shopping centre owner Hammerson are among the companies reporting today.

Politics

61 h. ago EU spends more on Russian oil and gas than financial aid to Ukraine – report

Europe estimated to have bought €22bn of fossil fuels from Russia in 2024 but gave €19bn to support KyivThe EU is spending more money on Russian fossil fuels than on financial aid to Ukraine, a report marking the third anniversary of the invasion has found.The EU bought €21.9bn (£18.1bn) of Russian oil and gas in the third year of the war, according to estimates from the Centre for Research on Energy and Clean Air (Crea), despite the efforts under way to kick the continent’s addiction to the fuels that fund Vladimir Putin’s war chest. Continue reading...

Economics

8 d. ago Europe’s seaborne imports of gas fall by fifth to lowest since 2021, report finds

UK records 47% annual drop as governments aim to replace fossil fuels but also spend billions on new LNG terminalsEuropean imports of seaborne gas shipments fell by a fifth last year to their lowest level since the pandemic, according to a new report, while the UK’s plunged by nearly a half, but governments are continuing to spend billions on new import terminals.The Institute for Energy Economics and Financial Analysis (IEEFA) found that Europe’s imports of liquefied natural gas, known as LNG, fell by 19% last year to lows not seen since 2021 as governments worked to replace fossil fuels with renewable energy. Continue reading...

Politics