BP, British oil giant

BP Drops ‘Reset’ Bombshell: Oil Surge, Cost Cuts, And A Leaner Green Dream
BP dropped a bombshell on February 26, 2025, unveiling a “fundamentally reset” strategy that pumps the brakes on its green ambitions, doubles down on oil and gas, and promises a cash bonanza for shareholders.
BP doubles down on oil and gas, cuts renewable investments in strategy reset
BP announces its big "reset" on Wednesday, and Wall Street expects a pivot away from renewables and a doubling down on oil and gas.
BP to boost oil and gas spending by $10B, slash renewable investment in major strategy shift
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 to Slash Green Spending, Pivot Back to Oil
But BP has struggled to reduce its debt load and the moves have failed to ignite its share price, leading to speculation among bankers that a rival could swoop in for parts—or t
BP’s going back to petroleum as it plans more oil spending and production
Embattled oil major BP on Wednesday unveiled what it billed as a strategic reset, planning to increase oil and gas investment while reducing outlays for greener fuels.
BP to pivot back to oil, cut green spending in strategic reset but stock drifts lower
BP (NYSE:BP) -1.4% pre-market Wednesday after unveiling its anticipated strategic reset to raise annual oil and gas spending to $10B while cutting planned spending in energy transition businesses by more than $5B from its previous forecast to $1.
BP to slash renewables spending in pivot back to oil and gas
BP will spend $10bn a year on producing more oil and gas, slash its spending on renewable energy and sell $20bn of assets as it tries to revive its share price under pressure from activist investor Elliott Management.
BP slashes green energy spending and turns back towards fossil fuels
The move follows pressure from some investors to boost profits at the firm, but has also angered environmental groups.
BP hikes oil and gas spending amid pivot away from green goals
BP said it still hopes to become a net-zero firm but will only spend up to £1.6bn a year on projects aimed at the energy transition, representing a significant cut.

BP to Slash Green Spending

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.
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 ...
BP announces 'reset' with slashed renewables investments and $20 billion in divestments
In addition to divesting $20 billion of assets, BP plans to slash investments in renewables and boost growth elsewhere.
BP Refocuses on Oil Amid Elliott Pressure, But Cuts Buybacks
BP Plc announced a major pivot back to its core oil and gas business and promised to sell assets and reduce spending, but ...
BP weighs sale of $10 billion Castrol lubricants unit, Bloomberg News reports
Oil major BP is considering a potential sale of its lubricants business, Castrol, which could be worth about $10 billion in a ...
BP Considers Castrol Sale as Elliott Turns Up the Heat
BP PLC (BP) is reportedly considering selling its lubricants division, Castrol, amid growing pressure from activist investor ...
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BP's Bold Investment Shift: Doubling Down on Fossil Fuels
BP is set to increase its annual investments in oil and gas to $10 billion, signaling a shift back to fossil fuels under CEO ...
BP cuts investment in clean energy and boosts oil and gas in major strategy shift
BP slashed planned investment in renewable energy and said Wednesday that it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and ...
Fate of BP top brass in the balance after: Activist Elliott 'evaluating' new strategy as oil giant ditches green agenda
US-based activist investor Elliott, run by notorious New York hedge fund tycoon Paul Singer (right), has built a nearly £4bn ...