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The Latest Breaking News from British Petroleum

BP takes the axe to investment in green energy in "shocking" strategy U-turn

Rethink comes five years after BP set ambitious targets to cut production of oil and gas by 40% by 2030

Evening Standard

BP expected to roll back green energy pledges to boost profit

The oil giant was criticised by environmental groups amid forecasts that it will roll back pledges made five years ago in a bid to boost profit.

Evening Standard

BP signs $25bn deal to redevelop Iraq’s oil and gasfields as it slashes investments in renewable energy

BP previously committed to cut oil and gas production by 40 per cent by 2030

The Independent UK

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BP to slash renewable energy generation to pivot to fossil fuels

OIL and gas company BP is expected to ditch a target to ramp up renewable energy generation by 2030 in a bid to pivot back towards fossil fuels and…

The National (Scotland)

BP expected to scrap renewables target in shift back to fossil fuels

Goal of increasing renewable energy generation 20-fold to be ditched, shareholders to be told this week

The Guardian - UK

FTSE 100 falls after plunging consumer confidence report

Polling by the British Retail Consortium found expectations for the economy worsened for the fifth consecutive month in February.

Evening Standard

BP investors demand vote on any plans to scrap climate goals

The oil giant is expected to go back on a promise to reach net zero carbon emissions by 2050 at a strategy meeting next week.

Evening Standard

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Hedge fund’s BP stake worth £3.8bn as firm expected to ditch green promises

Activist investor Elliott Management is expected to push for BP to pivot back towards traditional oil and gas.

Evening Standard

Activist hedge fund reportedly amasses £3.8bn stake in BP

Elliott Management expected to demand strategy changes including pushing to abandon green energy pledge

The Guardian - UK

Time for BP’s chair to head for the exit

Helge Lund is too closely tied to share price failure and BP’s inability to carry its investors with it

The Guardian - UK

FTSE 100 nudges up despite Trump steel tariffs

The blue-chip index has hit a succession of record highs in recent weeks.

Evening Standard

BP Pledges Strategic 'Reset' As Profit Tumbles

Britain's BP on Tuesday said its annual net profit slumped 97 percent last year, as the struggling oil and gas giant pledged to "fundamentally reset" its strategy.

International Business Times

BP and Shell profits more than double UK climate commitments, new figures show

BP and Shell profits in 2024 more than double the UK’s climate financial commitments, new figures show ...

The National (Scotland)

BP profits slump to four year low as activist shareholder circles

Disappointing results come weeks before major investor update on new strategy

Evening Standard

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Evening Standard

BP boss vows to ‘reset’ strategy after annual profits slump

The FTSE 100 firm reported a 36% drop in profits to £7 billion, as speculation grows that it will turn away from renewables to improve returns.

The Guardian - UK

BP chief says it will ‘fundamentally reset’ amid threat of activist investor

Murray Auchincloss promises improvements after annual profits fell to $8.9bn last year from almost $14bn in 2023

Evening Standard

FTSE 100 Live 11 February: BP strategy reset in focus after profits fall, Entain shares slide on CEO exit

A four-year low for BP quarterly profits today heightened the focus on the oil giant’s plans for a major strategy reset.

Evening Standard

FTSE 100 strikes another record high as BP shares jump

The FTSE 100 finished 67.27 points, or 0.77%, higher to end the day at 8,767.80.

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The Guardian - UK

BP shares jump after feared US hedge fund Elliott takes stake

Activist fund predicted to push for overhaul of oil company’s strategy and shake-up of board

Evening Standard

BP shares jump after activist investor reportedly buys stake

The reported stake-buying by Elliott has fuelled speculation over strategy changes at the oil giant and an overhaul of its management.

The Guardian - UK

An existential risk: can BP avoid becoming a prime takeover target?

CEO has ‘narrow window’ to come up with positive shift in strategy to win back investor confidence, say analysts

The Guardian - UK

Norwegian firm lobbying to open Rosebank oilfield halves green investments

State-owned Equinor becomes latest fossil fuel firm to backtrack on clean energy pledges with move to halve budget to $5bn

The Guardian - US

Trump has brought much-needed attention to a site of great tragedy: the Gulf of Mexico

Environmental disasters have plagued the water body for decades. Now the region is thrust in the global spotlight

The Guardian - AU

Australian chefs on the after-school meals they cooked as kids: ‘I still eat this dish today’

From chilli-laced Thai salad to instant noodles, Palisa Anderson, Junda Khoo, Jung Eun Chae and Rowena Chansiri reveal the childhood dishes they’d make when they arrived home ravenous

International Business Times

2025 Layoffs: Meta, Microsoft, And BlackRock Join The Trend Amid AI Shift

While workforce cuts raise concerns, the tech sector is poised for significant growth, with jobs in big data, fintech, and AI expected to double by 2030.

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