BP to Slash Spending on Net Zero Ventures

BP to Slash Green Spending, Pivot Back to Oil
Those include activist hedge fund Elliott Management, which recently took a stake in BP with a view to pushing for significant changes.“It’s a radical shift,” Chief Executive Murray Auchincloss said in an interview.
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 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.
BP shuns renewables in return to oil and gas
BP said it would increase its investments in oil and gas by about 20% to $10bn (£7.9bn) a year, while decreasing previously planned renewables funding by more than $5bn (£3.9bn).
BP’s going back to petroleum as it plans more oil spending and production
Embattled oil major BP on Wednesday unveiled what it billed as a strategic reset, planning to increase oil and gas investment while reducing outlays for greener fuels.
BP to boost oil and gas spending by $10B, slash renewable investment in 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.
BP axes £4bn of net zero spending in renewed oil and gas push
BP said it still hopes to become a net-zero firm but will only spend up to £1.6bn a year on projects aimed at the energy transition, representing a significant cut.
BP: Oil giant to invest more in oil and gas as it cuts 'green' plans
BP has confirmed it will slash spending on net zero transition businesses by more than five billion US dollars (£3.95 billion) a year, and significantly ramp up its oil and gas operations. The fossil fuels giant said it is still targeting net zero operations but will only spend up to two billion dollars (£1.
Kirkuk deal is BP’s 'most important' in 20 years, CEO Auchincloss says
BP's (NYSE:BP) deal to redevelop oil and gas fields in Iraq's Kirkuk region eventually will be viewed as of the company's ...
BP announces boost in oil, gas production after falling profits
Petroleum giant BP said on Wednesday that it plans to boost its annual oil and gas spending to $10 billion through 2027 as ...
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 ...
BP Refocuses on Oil Amid Elliott Pressure, But Cuts Buybacks
BP Plc announced a major pivot back to its core oil and gas business and promised to sell assets and reduce spending, but ...
BP takes the axe to investment in green energy in "shocking" strategy U-turn
BP today unveiled a massive strategy U-turn with a new emphasis on oil and gas investment and a massive downgrade of its ...
Iraq, BP agree to develop four Kirkuk fields
Iraq and oil major BP have signed a deal to redevelop four Kirkuk oil and gas fields, BP said on Tuesday, a breakthrough for ...
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 ...