(Bloomberg) -- BP Plc’s crucial strategy reset, which included a pivot back to oil and promises to sell assets, appeared to win few plaudits from investors as shares erased their recent gains.

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.

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. The energy company is seeking to ...

BP now aims to grow oil and gas production. Across the energy sector, major companies that shifted their position in response to the need to lower carbon emissions and curb climate change have ...

BAKU. March 6 (Interfax) - BP does not plan to shut down platforms at the Azeri-Chirag-Gunashli (ACG) block and the Shah Deniz field in 2025 for technical maintenance, BP-Azerbaijan spokesperson Tamam ...

FILE - A sign at a BP petrol station in London, Feb. 7, 2023. British energy giant BP has confirmed it is to slash spending on green ventures and up its oil and gas production. (AP Photo/Kirsty ...

(Bloomberg) -- BP Plc is set to announce a potential sale of its lubricants business and abandon plans to cut oil and gas output as it embarks on a shift away from renewable energy amid pressure ...

BP‘s chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil fuels, as part of a strategy shift announced on Wednesday to tackle ...

LONDON—BP BP0.32%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 ...

BP boosts oil and gas investment to $10 bln annually Cuts annual transition spending by over $5 billion Reviewing Castrol, targets $20 billion in divestment Energy transition is slower than BP ...