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BP, oil and gas and Shift

BP cuts renewable investment and boosts oil and gas in strategy shift

BP slashed planned investment in renewable energy and said on Wednesday it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and investor confidence.

The New York Times · 18h

BP to ‘Fundamentally Reset’ Strategy in Shift Back to Oil and Gas

The energy giant said it would cut planned investments in clean energy and redirect spending toward fossil fuels.

BP shuns renewables in return to oil and gas

BP said it would increase its investments in oil and gas by about 20% to $10bn (£7.9bn) a year, while decreasing previously planned renewables funding by more than $5bn (£3.9bn). The move comes as rivals Shell and Norwegian company Equinor have also scaled back plans to invest in green energy and US President Donald Trump's "drill baby drill" comments have encouraged investment in fossil fuels.

Iraq, BP agree to develop 4 Kirkuk fields

Iraq, BP agree to develop four Kirkuk fields

Iraq and oil major BP have signed a deal to redevelop four Kirkuk oil and gas fields, BP said on Tuesday, a breakthrough for Iraq, where output has been constrained by years of war, corruption and sectarian tensions.

Bloomberg L.P. · 1d

BP Finalizes Agreement With Iraq to Revive Kirkuk Oil Fields

BP Plc finalized an agreement with the government of Iraq to redevelop the giant Kirkuk oil fields, a deal that signals a return to the company’s Middle Eastern routes and should help to bolster production from the OPEC member.

Zacks.com on MSN · 12h

BP Signs Major Oilfield Redevelopment Deal for Kirkuk Oilfields

BP plc BP, the British oil and gas giant, has inked an agreement with Iraq for the redevelopment of four oilfields in Kirkuk. This is a significant development for Iraq, given that its oil and gas output has been restrained for several years due to challenges like war,

2d

Exclusive: BP to ditch renewables goals and return focus to fossil fuels

BP's chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil ...

2don MSN

BP poised to abandon renewable goals and return focus to fossil fuels - Reuters

BP (NYSE:BP) will scrap its target to increase renewable generation 20-fold by 2030 and return its focus to fossil fuels, as ...

1don MSN

BP expected to scrap renewables targets as part of performance reset

BP will abandon its pledge to increase renewable energy generation by 2030 when it presents its strategy to investors on ...

12d

BP’s overhaul can start with a new Chair

BP has a laundry list of problems. The $93 billion UK oil major has a confused strategy, an overleveraged balance sheet, and ...

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