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BP slashes renewable investment increasing oil and gas production | Business Live
Posted
February 26, 2025
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February 26, 2025
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27:26Now PlayingJoin Business Live with Darren McCaffrey:
Oil and gas giant BP has again slashed its renewable energy investment and announced more funding for greater fossil fuel production.
In a further row back of climate targets the company has said renewable energy investment will fall by $5bn (£3.95bn) a year to just $1b to 2bn ( £790m to £1.58bn).
Funding for further oil and gas extraction will grow to $10bn (£7.9bn) annually as the business shifts focus back to its original mission of extracting fossil fuels.
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