Oil major BP to slash renewable spending

Oil major BP boosts annual fossil fuel spending to $10 billion in strategy reset
British oil major BP on Wednesday announced plans to increase annual oil and gas investment to $10 billion as part of a fundamental strategic reset.
BP to Focus More on Oil and Gas in Strategy ‘Reset’
The energy giant said it would cut planned investment in clean energy and redirect spending toward fossil fuels.
BP slashes ‘net zero’ renewable energy spending by $5 billion, turns to fossil fuels: What’s behind the strategy shift?
BP said it will reduce its spending on net zero transition businesses by $5 billion a year to up to 2 billion. BP will increase its oil and gas production investments by about 20 per cent to $10 billion.
Report: BP to drop renewable energy goals in favor of fossil fuels
The Houston oil giant is abandoning its goal of growing its renewable generation capacity 20-fold by 2030, Reuters reports.
BP to cut renewable energy targets and focus on fossil fuels
BP is set to announce at the capital markets day that it is scaling back its 2030 renewables goal to 50GW instead of a 20-fold increase.
BP poised to abandon renewable goals and return focus to fossil fuels - Reuters
BP will scrap its target to increase renewable generation 20-fold by 2030 and return its focus to fossil fuels, as part of a strategy shift to be announced this week.
BP doubles down on oil and gas, cuts renewable investments in strategy reset
BP announces its big "reset" on Wednesday, and Wall Street expects a pivot away from renewables and a doubling down on oil and gas.
BP slashes renewables investment and boosts fossil fuel production
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 renewable energy investment will fall by $5bn (£3.95bn) a year to just $1bn to $2bn (£790m to £1.58bn).
BP to ditch renewables goals and return focus to fossil fuels
STORY: Sources say BP's chief executive is to scrap a target to increase renewable generation 20-fold by 2030.And will instead return its focus to fossil fuels.BP's shares have underperformed rivals in recent years.
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 part of CEO Murray Auchincloss' efforts to boost returns and improve financial performance.
Exclusive: BP to ditch renewables goals and return focus to fossil fuels
BP's chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil ...
How energy giant BP went from eco poster child to possible takeover target
In an industry where timing is everything, BP made the right bet at the wrong time,” says one professor who has studied its ...
BP to Slash Green Spending, Pivot Back to Oil
The struggling British energy company has seen its rivals streak ahead after it bet big on clean energy.
BP Takes A Step Back, Aims For Profit As Oil Company Abdicates Its Green Transition Plans
The company has abandoned its plan to transition to greener energy resources; instead, it has decided to invest more in ...
BP Just Ditched Its Green Pledge--Why This Energy Giant Is Betting Big on Oil Again
BP is scrapping its massive renewable energy targets and doubling down on fossil fuels--here's what it means for investors.