Firm will be selective about investing in low-carbon options, slashing more than $5bn from previous green plan
Business live – latest updates
BP is almost doubling its target for oil and gas production by the end of the decade and slashing its spending on low-carbon energy as part of a fundamental reset of the troubled company away from previous green goals.
The FTSE 100 fossil fuel company has promised shareholders it will increase its planned oil and gas production by 2030 to the equivalent of about 2.4m barrels a day – almost twice the figure in its net zero plan set out five years ago.
About Author
More Stories
Nigeria sues crypto giant Binance for $81.5bn in economic losses and back tax
‘I felt nothing but disgust’: Tesla owners vent their anger at Elon Musk
Chinese fishing fleets using North Korean forced labour in potential breach of sanctions, report claims