BP’s carbon-cutting target, announced in 2020, however, had stood out at the time as one of the most ambitious in the industry. “It’s a radical shift,” CEO Murray Auchincloss told the ...

O il major bp has pulled back from its promise to cut oil and gas output by 40% while rapidly growing renewables by 2030 as a way to regain the confidence of investors, although it continues to ...

A massive hydrogen project at the heart of Ed Miliband’s net zero plans risks being cancelled as BP retreats from green targets. The H2Teesside scheme, announced in 2021 by the company’s then ...

BP to slash spending on net zero ventures as it focuses on oil and gas again The update is clearly aimed at bolstering investor support in light of the company’s flagging share price. Share this: ...

British oil and gas supermajor BP will scrap a previous target to ramp up renewable generation capacity 20-fold by 2030, returning instead to a focus on fossil fuels in an effort to mollify investors.

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.

BP still believed it was on the right track with its net-zero plans and a 40% cut in oil and gas production by 2030. And then it was 2022. Oil demand had been on the rebound ever since the ...

STORY: BP has abandoned a target to cut oil and gas output by 2030.Three sources told Reuters of the new approach.They said CEO Murray Auchincloss is scaling back the firm's energy transition ...

BP’s carbon-cutting target, announced in 2020, however, had stood out at the time as one of the most ambitious in the industry. “It’s a radical shift,” CEO Murray Auchincloss told the ...

A sign at a BP petrol station in London, Feb. 7, 2023. British energy giant BP has confirmed it is to slash spending on green ventures and up its oil and gas production.

British energy giant BP launched a major pivot back to its more profitable oil and gas business Wednesday, shelving its once industry-leading targets on reducing carbon emissions and slashing ...