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 ...

(Bloomberg) -- BP Plc Chief Executive Officer Murray Auchincloss appeared at a key US energy major conference in Houston on Tuesday, talking up his reset for the troubled British oil major.

The British petroleum giant laid out plans Wednesday to boost spending on fossil fuels as it dials back renewable energy plans. BP officials announced a “fundamental reset” Wednesday for the ...

BP on Wednesday announced plans to increase annual oil and gas investment to $10 billion through 2027 as part of a fundamental strategic reset. The beleaguered energy giant also said it planned to ...

BP is reducing total annual capital spending as part of its strategic reset, with greater amounts going to oil and gas and less to low carbon. Divestments of $20 billion will fund debt reduction.

In a statement titled “Reset BP,” the company said it will reduce its spending on net zero transition businesses by $5 billion a year to up to 2 billion. By contrast, it said it would increase ...

BP in late February announced a major reset in a bid to reduce the company’s exposure to the lower margin renewables portfolio and focus instead of the more profitable upstream business.

Four other investors, all of whom rank among BP’s 30 largest shareholders ... Chief Executive Officer Murray Auchincloss pledged this week to present a “fundamental reset” of BP’s strategy at its ...