Why BP’s Elimination Of 2030 Oil Reduction Target Is No Real Surprise
BP said Monday it will drop a pledge to cut its oil production 25% by 2030. Critics slammed the move, but should not be surprised by it.
In Depth
Exclusive: BP abandons goal to cut oil output, resets strategy
BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said.
BP to walk back oil and gas production output cuts
Oil and gas giant BP has abandoned its ambitious energy strategy, doing away with its goal to cut its oil and gas output by 2030, according to a new report.
BP drops goal to reduce oil and gas output
When unveiled in 2020, BP's strategy was the sector's most ambitious with a pledge to cut output by 40% while rapidly growing renewables by 2030.
Exclusive-BP drops oil output reduction target in strategy reset, sources say
By Ron Bousso LONDON (Reuters) -BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said.
BP Abandoning Oil, Gas Output Cut Target, Report Says
KEY TAKEAWAYS BP reportedly has given up on its goal to cut oil and gas output by 2030, as the British energy giant's chief executive seeks to build back investor confidence in the company.According to Reuters,
BP scales back its energy transition, abandons oil and gas targets
Offshore Technology previously reported that the energy giant was pondering a move away from renewables in the hope of better longer-term financial returns.
BP set to axe 2030 target for oil and gas output cuts
The oil supermajor's chief executive, Murray Auchincloss, is looking to win back confidence among investors concerned about the firm's share price shrinking amid moderating energy prices.
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