Nearly two months after an explosion sent flaming debris raining down on the Turks and Caicos, SpaceX launched another mammoth Starship rocket on Thursday, but lost contact minutes into the test ...

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 ...

BP said it would increase annual oil and gas spending to $10 billion and cut planned annual investment in energy transition businesses by more than $5 billion. The energy company is seeking to ...

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 ...

BP has announced it will slash its renewable energy investments to focus on increasing oil and gas production. As part of what CEO Murray Auchincloss is calling a “fundamental reset”, BP has ...

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 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.