BP to spend slash funds in net zero in as it focuses on oil and gas and

The British Energy Company has confirmed Wednesday that will reject the green performance and increase its oil production and gas.

In a statement entitled “Reset BP,” the company said it would make money for spending on its Nitro business plans

The future spending will be very down, up to between $ 1.5 billion and $ 2 billion per year.

In contrast, BP said it would increase its investment in oil and electricity for about 20% to $ 10 billion.

The CEO MURRAY AUSHINCLOS The company focuses on its use in the BP entities “to drive the growth” and that will be “Choosing” the most in its investment.

“This is a BP reset, with an unintended focus on the growth of the long-term shares,” he said.

Strategy represents the company’s background in the last five years, under then Bernard Looney, the reduction and gas production is approved by non-zero business.

Auchincloss has told investors after an update when company faith in green change “is unworthy” and that the company goes “freely” in recent years. The need for oil and gas adds, ‘you will need to come. “

Get Worldwide News

Find top, political, economic matters, and current stories, brought to your inbox once a day.

However, he said that the revival is still “important opportunity” and confirm that the company still wants to fulfill the exiting of Not Zero Robbon in 2050.

“The Global Carbon releases, and looks for many energy, countries, companies, companies, seek low-catching products and services to support their Decarbaze goals,” he said.

2:06
Was the renewable renewable energy change helpful or prevent the advancement?

The renewal is clearly intended to strengthen investment support in the cost of sharing the company’s flassging price.

To date, renewal does not appear to be transferred to investors, and the price of the company’s distributors were under 1.4% mid five afternoon Trading on Wednesday.

However, returns may indicate a certain benefit of investment following a meeting in newly passed weeks of the company to change TACH.

The stock of company is responsible for the Fourth of its peers over the past few years as a shell, exxonmobil and Chevron, holding market recognition that BP may be accompanied by its New York List, or makes it a purpose of taking.

The US Hedge Fund Elellit recently took a nearly 5% of BP.

Auchincloss has already organized BP’s Spirit’s Spirit BP in the joint venture while they want to upload its air arm. The group also has costly costs when facing solid trade. Recently, they announced that it will cut over 5% of their staff.

BP strategy is experiencing sharp criticism from environmental campaigns, who had been burning the company emphasis that the future was green.

“This movement in Giant Giant BP shows why most rich companies and people, lead to organize the situation that we need,” UK Matilda Borgström, UK Conference Action Group 350.org.

“To throw money from oil and gas to all the risk of all of us, flies in the face of legal weather, and the sector renewed weeds of the most dangerous stocks,” add.

7:40
Reduced power suppliers have responded to new Alberta laws

& Copy 2025 Canadian machine