LONDON—BP BP0.34%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 ...

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 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 ...

British oil giant BP (BP) is pivoting its focus back to its core business of oil and gas while lowering spending on renewables. On Wednesday, the British energy giant announced it will increase ...

It was more than 20 years ago that the then boss of BP reframed those famous initials as "Beyond Petroleum". It was the first tentative step in transforming the company from an oil and gas ...