reuters bp - Search News

BP to drop renewable energy goals in favor of fossil fuels

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.

Hosted on MSN · 2d

BP poised to abandon renewable goals and return focus to fossil fuels - Reuters

BP (NYSE: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 at its capital markets day investor update to tackle investor concerns over earnings,

Chron on MSN · 1d

Report: BP to drop renewable energy goals in favor of fossil fuels

BP CEO Murray Auchincloss is announcing plans to ditch the company's goal of growing renewable generation capacity 20-fold by 2030 and instead return focus to fossil fuels, Reuters reports. The goal measured growth from 2019 figures.

BP, British Oil

Houston Chronicle on MSN · 34m

BP shifts more to oil and gas production in a move to focus less on renewables

BP, the British Oil major, said Wednesday it is refocusing the company on its core oil and gas business and reducing investments in clean energy. In a Wednesday news release, BP officials said the company would "fundamentally reset strategy” to improve value for shareholders.

MarketWatch on MSN · 10h

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.

BBC · 9h

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 funding for renewables by more than $5bn (£3.9bn). The move comes as rivals Shell and Norwegian company Equinor have also scaled back plans to invest in green energy and US President Donald Trump's "drill baby drill" comments have encouraged investment in fossil fuels.

Iraq, BP agree to develop 4 Kirkuk fields

Reuters · 1d

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 Iraq, where output has been constrained by years of war, corruption and sectarian tensions.

Bloomberg L.P. · 1d

BP Finalizes Agreement With Iraq to Revive Kirkuk Oil Fields

BP Plc finalized an agreement with the government of Iraq to redevelop the giant Kirkuk oil fields, a deal that signals a return to the company’s Middle Eastern routes and should help to bolster production from the OPEC member.

Zacks.com on MSN · 4h

BP Signs Major Oilfield Redevelopment Deal for Kirkuk Oilfields

BP plc BP, the British oil and gas giant, has inked an agreement with Iraq for the redevelopment of four oilfields in Kirkuk. This is a significant development for Iraq, given that its oil and gas output has been restrained for several years due to challenges like war,

12h

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 ...

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 ...

34mon MSN

BP shifts more to oil and gas production in a move to focus less on renewables

BP, the British Oil major, said Wednesday it is refocusing the company on its core oil and gas business and reducing ...

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 ...

2don MSN

BP poised to abandon renewable goals and return focus to fossil fuels - Reuters

BP (NYSE:BP) will scrap its target to increase renewable generation 20-fold by 2030 and return its focus to fossil fuels, as ...

BP weighs sale of $10 billion Castrol lubricants unit, Bloomberg News reports

Oil major BP is considering a potential sale of its lubricants business, Castrol, which could be worth about $10 billion in a ...

12d

BP’s overhaul can start with a new Chair

BP has a laundry list of problems. The $93 billion UK oil major has a confused strategy, an overleveraged balance sheet, and ...

10h

E.ON decisions on post-2029 investment could come early next year, CFO says

Spending plans for the period after 2029 by Germany's power grid operator E.ON could come early in 2026, depending on the ...

10h

EU proposes cutting back sustainability laws for companies

The European Commission on Wednesday proposed sweeping changes to EU green rules, scrapping sustainability reporting ...

Lightsource bp secured 10 power purchase deals totalling 1.3 GW last year

Renewable energy developer Lightsource bp, a unit of British oil company BP , secured 10 power purchase agreements (PPAs) ...

Oil prices fall 2% to two-month low on worries about US economy

Oil prices fell about 2% to a two-month low on Tuesday on weak economic news from the U.S. and Germany that fed fears of ...

Some results have been hidden because they may be inaccessible to you

Show inaccessible results