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.

BP (NYSE:BP) -1.4% pre-market Wednesday after unveiling its anticipated strategic reset to raise annual oil and gas spending to $10B while cutting planned spending in energy transition businesses ...

BP has announced it will cut its renewable energy investments and instead focus on increasing oil and gas production. The energy giant revealed the shift in strategy on Wednesday following ...

The fossil fuels giant said it would increase oil and gas investment by about 20% to £7.9 billion a year as part of a major strategy update.

LONDON—BP BP0.32%increase; green up pointing triangle said it would boost oil-and-gas production and sharply cut investments in clean energy, pivoting back to fossil fuels in a bid to revive its ...

LONDON (AP) — British energy company BP confirmed Wednesday that it would slash spending on green ventures and increase its oil and gas production, a change in direction that it hopes will ...

Feb. 26 (UPI) --BP said on Wednesday that it plans to boost its annual oil and gas spending to $10 billion through 2027 as part of the company's reset after recent lackluster economic performance.

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 ...

BP (NYSE:BP) plans to add two new directors to help it pivot back to oil and gas, Financial Times reported Tuesday, as Chair Helge Lund wants the board to reflect the company’s new strategy ...

BP boosts oil and gas investment to $10 bln annually Cuts annual transition spending by over $5 billion Reviewing Castrol, targets $20 billion in divestment Energy transition is slower than BP ...