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BP Shuns Renewables in Return To Oil and Gas
BP has announced it will cut its renewable energy investments and instead focus on increasing oil and gas production. The energy giant revealed the shift in strategy on Wednesday following pressure from some investors unhappy its profits and share price have been lower than its rivals. From a report...
BP has announced it will cut its renewable energy investments and instead focus on increasing oil and gas production. The energy giant revealed the shift in strategy on Wednesday following pressure from some investors unhappy its profits and share price have been lower than its rivals. From a report: BP said it would increase its investments in oil and gas by about 20% to $10bn a year, while decreasing previously planned funding for renewables by more than $5bn.
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