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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 ...

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 ...

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.