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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 ...

By Stanley Reed Reporting from London BP, the energy giant, said on Wednesday that it would increase spending on oil and gas while sharply paring back investments on various forms of clean energy.

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.

This is a reset BP, with an unwavering focus on growing long-term shareholder value." Shell and Norwegian company Equinor have already scaled back their plans to invest in green energy.

Oil major BP says it has slashed planned investment in renewable energy and would increase annual oil and gas spending to $10bn. It is the latest multinational in the energy sector to change its ...

BP will abandon its pledge to reduce oil and gas output and announce at least one major divestment at its investor day on Wednesday, said people familiar with the plan, as chief executive Murray ...

The financial year net profit at BNP Paribas' (BNPP.PA), opens new tab Polish unit stood at 2.36 billion zlotys ($611.76 million), ahead of the 2.18 billion zlotys forecast in a company-compiled ...

BP chief executive Murray Auchincloss took a £2.3 million pay cut last year amid a slump in profit at the fossil fuel giant. Mr Auchincloss took home £5.4 million in 2024 including bonuses and ...