44 m. ago BP's radical shift from green energy to fossil fuels has stunned the market... but what does it mean for YOU? Read our ultimate guide on whether you should invest in the oil giant

The boss of BP insists investors will 'love' his radical plans to revive the struggling oil giant - but the jury remains very firmly out.

Economics

1 hour 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 to ramp up oil and gas output in major shift away from green goals

Fossil fuel firm will cut more than $5bn from low-carbon investment plan in ‘fundamental reset’Business live – latest updatesBP is dropping green goals, ramping up oil and gas production and slashing spending on low-carbon energy as part of a fundamental reset of the troubled company.The FTSE 100 fossil fuel company has promised shareholders it will increase its target for oil and gas production by 2030 to the equivalent of about 2.4m barrels a day – about 60% higher than the figure in its net zero plan set out five years ago. Continue reading...

Politics

4 h. ago BP to almost double oil and gas production by 2030 in move away from green goals

Firm will be selective about investing in low-carbon options, slashing more than $5bn from previous green planBusiness live – latest updatesBP is almost doubling its target for oil and gas production by the end of the decade and slashing its spending on low-carbon energy as part of a fundamental reset of the troubled company away from previous green goals.The FTSE 100 fossil fuel company has promised shareholders it will increase its planned oil and gas production by 2030 to the equivalent of about 2.4m barrels a day – almost twice the figure in its net zero plan set out five years ago. Continue reading...

Politics

6 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 raise oil and gas spending to $10bn a year in pivot away from green goals

Firm confirms plans to scale back green energy efforts and ‘fundamentally reset’ strategyBusiness live – latest updatesBP will abandon its green ambitions by increasing its oil and gas investment to $10bn a year as part of a fundamental reset of the troubled company’s strategy.The company has confirmed that it will scrap its plan to cut its fossil fuel production and will instead grow production to 2.3m–2.5m barrels of oil a day by the end of the decade. Continue reading...

Economics

7 h. ago BP ramps up oil and gas investment to $10bn a year in ‘fundamental reset’ – business live

Oil and gas giant abandons green ambitions, as boss says it will be ‘very selective’ about investing in fossil fuel alternativesBP will abandon its green ambitions, including plans to cut its oil and gas production by the end of the decade, as part of a “fundamental reset” of the troubled company’s strategy.Instead, it is ramping up its oil and gas investment to $10bn a year.Today we have fundamentally reset BP’s strategy. We are reducing and reallocating capital expenditure to our highest-returning businesses to drive growth, and relentlessly pursuing performance improvements and cost efficiency. This is all in service of sustainably growing cash flow and returns.This strategy will see BP grow its upstream oil and gas business, focus its downstream business, and invest with increasing discipline into the transition.Connecting offshore wind farms such as Sofia helps harness the power of the North Sea to keep the lights on and deliver homegrown energy to British consumers.OFTO is par...

Economics

7 h. ago BP takes the axe to investment in renewables in huge strategy U

Rethink comes five years after BP set some of the most ambitious targets among large oil companies to cut production of oil and gas by 40% by 2030

Politics

6 d. ago The verdict on the new Wales team as Sherratt takes an axe to Gatland's selection strategy

New Wales coach Matt Sherratt has made wholesale changes but will it work?

Politics