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Oil major BP to slash renewable spending and double down on fossil fuels in strategy reset

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 ...
Crude Oil Prices

Elliott Wants BP to Double Cost Cuts Target to $10 Billion

Elliott Management, the activist U.S. hedge fund with 5% in BP, is doubling down on its pressure on the UK supermajor to deliver massive cost reductions after the reset, seeking doubling of the ...
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BP Q2 earnings preview: Revenue and profit set to drop double digits; cost-cutting measures in spotlight

BP p.l.c. (NYSE:BP) is scheduled to announce Q2 results on Tuesday, August 5th, before the market opens, and the consensus EPS estimate is $0.66 (-34.0% Y/Y) on revenue of $40.43B (-14.5% Y/Y). BP ...
Reuters

BP plans six new gas wells to sustain output from Azeri Caspian Sea field

Azerbaijan plans to double gas exports to Europe by 2027 EU seeks alternatives to Russia gas imports Azerbaijan tackles declining oil production BAKU, Feb 11 (Reuters) - BP (BP.L), opens new tab plans ...
The New York Times

BP to Focus More on Oil and Gas in Strategy ‘Reset’

The energy giant said it would cut planned investment in clean energy and redirect spending toward fossil fuels. By Stanley Reed Reporting from London BP, the energy giant, said on Wednesday that it ...