BP slashes green energy spending and turns back towards fossil fuels BP is making a drastic pullback from renewables in ...

Oil futures settled lower Wednesday, with concerns over the global economic outlook and potential for an end to Russia's war against Ukraine that could lift sanctions on Moscow prompting prices to ...

LONDON (AP) — British energy company BP confirmed Wednesday that it would slash spending on green ventures and increase its ...

Good afternoon and happy Wednesday, readers! We are starting off today’s newsletter with President Donald Trump announcing plans to cancel an oil deal with Venezuela made by his predecessor. Callie an ...

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BP dropped a bombshell on February 26, 2025, unveiling a “fundamentally reset” strategy that pumps the brakes on its green ...

BP, the British Oil major, said it is refocusing the company on its core oil and gas business and reducing investments in clean energy.

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

In addition to divesting $20 billion of assets, BP plans to slash investments in renewables and boost growth elsewhere.

BP said it would increase annual oil and gas spending to $10 billion and cut planned annual investment in energy transition businesses by more than $5 billion.

BP executives admit they went 'too far, too fast' chasing low carbon investments, but will investors swallow new plan?

BP announces its big "reset" on Wednesday, and Wall Street expects a pivot away from renewables and a doubling down on oil ...