BP to Scrap Renewable Target, Focus on Fossil Fuels, Reuters Says, Citing Sources

Dow Jones

Feb 25, 2025

-- Oil-and-gas company BP will refocus on fossil fuels and scrap a target to raise renewable generation capacity 20-fold by 2030, Reuters reports citing unnamed sources.

-- The change in direction is expected as part of a shift in strategy BP will outline Wednesday, Reuters reports, citing the sources.

-- The company will also ditch a target to achieve $49 billion in core earnings this year, setting instead an annual percentage growth target. In addition, it will disclose plans to divest assets and cut low-carbon investments to reduce debt and boost shareholders returns, the sources tell Reuters.

-- BP declined to comment to Reuters.

Full story: https://shorturl.at/cfPKc

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

February 24, 2025 12:06 ET (17:06 GMT)

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In addition, it will disclose plans to divest assets and cut low-carbon investments to reduce debt and boost shareholders returns, the sources tell Reuters. \n</p>\n<p>\n  -- BP declined to comment to Reuters. \n</p>\n<pre>\n \n</pre>\n<p>\n  Full story: https://shorturl.at/cfPKc \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Pierre Bertrand at pierre.bertrand@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 24, 2025 12:06 ET (17:06 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2514877181","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2514877181","pubTimestamp":1740416760,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"-- Oil-and-gas company BP will refocus on fossil fuels and scrap a target to raise renewable generation capacity 20-fold by 2030, Reuters reports citing unnamed sources.-- The change in direction is expected as part of a shift in strategy BP will outline Wednesday, Reuters reports, citing the sources.-- The company will also ditch a target to achieve $49 billion in core earnings this year, setting instead an annual percentage growth target. 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In addition, it will disclose plans to divest assets and cut low-carbon investments to reduce debt and boost shareholders returns, the sources tell Reuters. \n\n\n  -- BP declined to comment to Reuters. \n\n\n \n\n\n  Full story: https://shorturl.at/cfPKc \n\n\n \n\n\n  Write to Pierre Bertrand at pierre.bertrand@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 24, 2025 12:06 ET (17:06 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"policyRegulatory","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}