BP to Slash Green Spending

BP's green failure offers Big Oil a lesson in moderation
BP has returned to its oil and gas roots in a spectacular about-turn following its trailblazing attempt five years ago to become a renewables giant. The takeaway for Big Oil is that the energy transition is a marathon,
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 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 pivots back to oil and gas after ‘misplaced’ faith in green energy
BP has abandoned a radical attempt to reinvent itself as a green energy company, bowing to pressure from investors after its aggressive shift away from fossil fuels over the past five years backfired.
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 Cut Renewable Investments, CEO Says Green Energy Push Went 'Too Far, Too Fast'
Due to investor pressure, BP will cut investments in renewable energy and increase oil and gas production. BP will raise oil and gas spending by 20% to $10 billion annually while reducing renewable energy investments by over $5 billion.
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 cuts renewable investment and boosts oil and gas in strategy shift
BP slashed planned investment in renewable energy and said on Wednesday it would increase annual oil and gas spending to $10 ...
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 ...
Elliott Ramps Up Pressure on BP as New Strategy Falls Short
Elliott Investment Management is ramping up pressure on BP Plc after its new strategy fell short of the activist investor’s ...
BP goes back to petroleum
On more than one occasion since, though, BP has edged towards that early ambition by setting goals to shift from fossil fuels into producing the renewable energy the world will need if it is to ...
BP shareholders want it to make money, not climate policy
Many groups say that long term BP and others are pursuing a no-win strategy. Climate concerns will become so acute that much ...
BP to Prepare Lubricants Sale, Ditch Plan to Cut Oil Output in Strategy Review
BP Plc is set to announce a potential sale of its lubricants business and abandon plans to cut oil and gas output as it ...
Oil major BP to slash renewable spending and double down on fossil fuels in strategy reset
British oil major BP on Wednesday announced plans to increase annual oil and gas investment to $10 billion as part of a ...