From left: Yoji Muto, Japan’s Minister of Economy, Trade and Industry; Yukio Kani, Global CEO and Chair of JERA; William Lin, executive vice president for gas and low carbon energy, bp; and Jonathan ...

BP is to slash its spending on energy transition businesses by $5 billion and boost oil and gas expenditures to $10 billion in an effort to make the supermajor a more attractive investment ...

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 BP0.34%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 ...

Copyright 2025 The Associated Press. All Rights Reserved. A sign at a BP petrol station in London, Feb. 7, 2023. British energy giant BP has confirmed it is to slash ...

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.