BP to boost oil and gas spending by $10B, slash renewable investment in major strategy shift
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BP is shifting its strategy by increasing its annual oil and gas spending to $10 billion while cutting its planned investment in renewable energy by over $5 billion.
February 26, 2025 | 5:30 pm
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BP is increasing its oil and gas spending to $10 billion annually while reducing its renewable energy investments by over $5 billion, indicating a strategic shift towards traditional energy sources.
BP's decision to increase spending on oil and gas while cutting renewable investments suggests a focus on traditional energy sources, which may appeal to investors favoring short-term returns in the oil and gas sector.
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