Bp renewable energy news. Landfill gas, a natural byproduct of the decomposition of .

Bp renewable energy news. Jul 22, 2019 · BP announces major expansion in renewable energy, combining biofuels and biopower with Bunge in Brazil to create a world-class bioenergy company - Brings together established industry players with complementary assets and experience in one of world’s largest fast-growing biofuels market - Creates highly-efficient producer of ethanol and low-carbon biopower, with opportunities for synergies Aug 21, 2020 · BP plans to cut its oil and gas output by 40% by 2030 and spend $5 billion a year on low-carbon projects, to become one of the world's biggest green energy producers. 3GW. The acquisition represents a significant step towards bp’s target of growing its net developed renewable generating capacity to 20GW by 2025 and aim to increase this to 50GW by 2030. Sep 20, 2021 · Deep in the Oman desert lies one of BP's more lucrative projects, a mass of steel pipes and cooling towers that showcases the British energy giant's pioneering natural gas extraction technology. Jun 16, 2016 · BP is embarking on a new chapter in its clean energy transition by investing in offshore wind power. Feb 26, 2025 · (Reuters) – BP (BP. It specializes in the development, construction and operation of RNG, landfill-gas-to-electric and dairy digester facilities that capture waste emissions and convert it into low carbon energy. Oct 24, 2024 · William Lin, bp’s executive vice president for gas and low carbon energy, said: “This deal creates an engine for onshore renewable power development at bp – combining wind, solar and batteries to generate the energy flows our traders need to optimise value and the electrons our customers want. Sep 15, 2020 · Microsoft and bp have signed a framework agreement for renewable energy projects that aims to ‎provide renewable energy to help power Microsoft’s datacentres. Jul 24, 2025 · In a surprising turn of events, BP has officially terminated its ambitious renewable energy project, signaling a notable shift in the company’s strategy. Oct 25, 2024 · “This deal creates an engine for onshore renewable power development at bp – combining wind, solar and batteries to generate the energy flows our traders need to optimise value and the electrons our customers want,” said William Lin, BP’s executive vice president for gas and low carbon energy. Apr 3, 2025 · BP is shutting its low-carbon mobility team in the energy major’s latest retreat from its five-year-old attempt to diversify away from oil and gas. Feb 26, 2025 · BP has announced it will cut its renewable energy investments and instead focus on increasing oil and gas production. Feb 25, 2025 · UK-based oil and gas company bp is planning a shift in its strategy, moving away from renewable energy targets and refocusing on fossil fuels, reported Reuters, citing two sources familiar with the matter. . Located next to a landfill owned by Rumpke Waste and Recycling, this is the first plant to come online since bp’s acquisition of Archaea in December 2022. BP’s strategy to capture 10% of the global hydrogen market is supported by large-scale projects like AREH, designed to establish replicable models for clean energy export. Feb 26, 2025 · BP slashed planned investment in renewable energy and said Wednesday that it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and Feb 24, 2025 · BP is scrapping its massive renewable energy targets and doubling down on fossil fuels--here's what it means for investors. Ultimately, this capital-light model will help Dec 9, 2024 · British oil giant BP announced Monday, December 9, it will "significantly reduce" investment in renewable energy through to 2030, as it combines its offshore wind business with that of Japanese Nov 18, 2024 · Almost five years ago, BP embarked on an ambitious attempt to transform itself from an oil company into a business focused on low-carbon power. Advancing American energy Lightsource bp is on a mission to become a global leader in onshore renewables, anchored by our proven track record in solar development. Feb 24, 2025 · BP is scrapping its massive renewable energy targets and doubling down on fossil fuels--here's what it means for investors. Dec 9, 2024 · BP and Japanese power generator JERA have agreed to join forces to form one of the world's largest offshore wind operators, a major step in CEO Murray Auchincloss' efforts to reduce BP's focus on May 3, 2022 · bp intends to invest up to £18 billion in the UK’s energy system by the end of 2030, demonstrating bp’s firm commitment to the UK, and helping the country to deliver on its bold ambitions to boost energy security and reach net zero. Sep 12, 2024 · Millán Garcia-Tola, Global Director of Hydrogen in Iberdrola said “this partnership with bp and our project is another step in Iberdrola's firm and real commitment to promote green hydrogen as a key vector for industrial decarbonization. In early 2025, the company cut planned investments in renewables while diverting billions of dollars back into traditional oil and gas ventures. Oct 17, 2022 · Accelerates bioenergy growth Acquisition of a leading US renewable natural gas (RNG) producer will accelerate growth of bp’s strategic bioenergy transition growth engine Operates 50 RNG and landfill gas-to-energy facilities across US, with development pipeline supporting potential for around five-fold increase in RNG volumes by 2030 Doubles the EBITDA bp expects from biogas to around $2 While bp mostly produces, trades and sells oil and gas, transition activities, such as EV charging, bioenergy and renewables, are a smaller but key part of our business. Feb 11, 2025 · Oil giant BP has said it will "fundamentally reset" its strategy as profits dropped sharply last year. Mar 3, 2025 · Even the oil giants that attempted to switch away from fossil fuels are going back to oil and gas. Feb 4, 2025 · BP (NYSE:BP) is hittingthe brakes on its $1 billion green hydrogen and renewable fuels project in Kwinana, Australia, as financial pressures and policy delays take their toll. It is widely expected to say later this month that it will scale back renewable projects and Jul 25, 2025 · The future of a renewable energy hub in Western Australia's Pilbara is in question after the majority shareholder backs out of the $55 billion project. The oil major, which has underperformed peers like Shell and Exxon Mobil, has come under increasing pressure to change strategy after news U. Mar 11, 2025 · 2 BP had aggressively pursued renewable energy, diverting investments from oil and gas. bp acquired the Houston-based business in late 2022. This decision reflects a broader trend amongst energy giants reassessing their commitments to sustainability amid evolving market conditions. We’ve started new projects, embraced new technologies and celebrated some big anniversaries – all while putting safety first. bp’s sophisticated Supply, Trading & Shipping business, for example, provides a direct pathway for moving and selling Archaea’s RNG, electricity and renewable-energy credits to more than 5,000 North American customers. Feb 26, 2025 · BP (BP) has announced a significant reduction in its renewable energy investment, slashing it by about $5 billion annually to between $1 billion and $2 billion, while simultaneously increasing Feb 8, 2022 · With a focus on fast and on-the-go charging – almost half bp’s current network is fast or ultra-fast – and on fleets, bp is aiming to increase the energy sold across its EV charging networks 100-fold from 2019 to 2030. Dec 9, 2024 · British oil giant BP announced Monday it will “significantly reduce” investment in renewable energy through to 2030, as it combines its offshore wind business with that of Japanese power Feb 7, 2023 · Transforming: investment in transition growth engines c. The new Vestas turbines are expected to produce up to 40% more energy. Many customers want to buy clean energy, and oil companies want to be positioned to cash in as this transition occurs. Feb 26, 2025 · British oil major BP on Wednesday announced plans to increase annual oil and gas investment to $10 billion as part of a fundamental strategic reset. 30% of 2022 total investment, up from c. The energy giant revealed the shift in strategy on Wednesday following 20 hours ago · BP has stopped work on its Rotterdam biofuels plant, a company spokesperson said on Monday, marking the latest in a string of abandoned biofuels projects by oil companies such as BP and Shell in Mar 1, 2025 · BP is cutting 8,000 jobs and reducing renewable energy investments to focus on fossil fuels, aiming to cut $2 billion in costs by 2026. Jul 18, 2025 · LS Power will add bp’s US onshore wind business to an existing fleet of renewable, energy storage, flexible gas and renewable fuels assets, which comprise a 21GW operating portfolio and more than 780 miles of high-voltage transmission lines in operation as well as another 350+ miles currently under construction or development. Feb 26, 2025 · BP has announced it will cut its renewable energy investments and instead focus on increasing oil and gas production. Feb 26, 2025 · BP has abandoned a radical attempt to reinvent itself as a green energy company, bowing to pressure from investors after its aggressive shift away from fossil fuels over the past five years backfired. Mar 3, 2025 · BP is being urged to ditch all renewable energy projects. Oct 24, 2024 · While bp will take on full ownership, Lightsource bp will retain its standalone operating model and independent brand, delivering renewable and affordable energy to businesses and communities across the world. Dec 10, 2024 · BP is creating a joint venture to bring about 'one of the largest global offshore wind developers' while lowering its share of investment in renewables. They are Dec 9, 2024 · BP will move all of its offshore wind business into a 50/50 joint venture with Jera, Japan’s largest power generation company, as it switches back from investing heavily in renewable energy to Feb 24, 2025 · BP will scrap its target to increase renewable generation 20-fold by 2030 and return its focus to fossil fuels, as part of a strategy shift to be announced this week. It also helps us with our own power demand. Dec 9, 2024 · BP spins off offshore-wind business in joint venture with JERA, in pullback from renewables The two companies pledged to invest a combined sum of up to $5. activist investor Elliott Investment May 6, 2024 · As with bp’s entire corporate strategy, integration between its businesses adds value. The takeaway for Big Oil is that the energy Jul 24, 2025 · BP has exited the gigantic Australian Renewable Energy Hub (AREH), which would feature up to 26 gigawatts of upstream wind and solar, much of which would have been used produce hydrogen and ammonia. But Wall Street changed its tune when oil and gas profits rebounded. 5GW. Feb 26, 2025 · BP, the energy giant, said on Wednesday that it would increase spending on oil and gas while sharply paring back investments on various forms of clean energy. Oct 4, 2023 · HOUSTON – Today, bp’s Archaea Energy (NYSE: BP) announced the official startup of its original Archaea Modular Design (AMD) renewable natural gas (RNG) plant in Medora, Indiana. 95bn) a year to just $1bn to $2bn (£790m to £1. Feb 27, 2025 · BP has returned to its oil and gas roots in a spectacular about-turn following its trailblazing attempt five years ago to become a renewables giant. “It is five years since we introduced a strategy underpinned by our sustainability frame and I am pleased Mar 3, 2023 · Astoria, NY – Today, Equinor and bp announced two major initiatives focused on Astoria: the purchase of the Astoria Gas Turbines site from NRG to repurpose it as a converter station connecting renewable offshore wind power to the New York grid, and a substantial investment in community resources Sep 17, 2024 · BP plans to sell its U. This move reflects the complexities of balancing investor demands, profitability, and sustainability in a rapidly changing energy landscape. 5 GW in 2019, as part of a new strategy. Feb 26, 2025 · BP slashed planned investment in renewable energy and said on Feb. Nov 15, 2024 · bp, Equinor, Shell and TotalEnergies announce a commitment to invest in support of the UN Sustainable Development Goal 7 (UN SDG7), which aims to ensure access to affordable, reliable, sustainable, and modern energy for all. Sep 16, 2024 · BP has put bp Wind Energy, its onshore wind business in the US, estimated to be worth $2bn, up for sale as it trims its renewables business and sells off underperforming assets. onshore wind energy business signifies a major pivot in the company’s renewable energy strategy, as it places greater emphasis on solar energy through Lightsource BP. Jan 17, 2025 · The job cuts align with a renewed emphasis on bolstering BP’s oil and gas operations and steering away from renewables. The Feb 4, 2025 · BP Plc is pushing back plans to make renewable fuels on the site of its former Kwinana oil refinery in Australia, amid a broader cost-cutting drive within the company. New York hedge fund Elliott Management is pushing British oil major BP (BP) to abandon all renewable energy projects, it was reported, after a corporate strategy reset fell short of the mark. 6 days ago · With energy prices rising, BP’s extensive oil and gas operations—and renewed emphasis on upstream production—could lay the groundwork for a possible recovery. In fact, for market observers there was a certain level of inevitability Oct 26, 2024 · The pullback by energy giant BP from renewables and a renewed focus on high margin mainstay oil and gas plays has been relentless this year under its current boss. 26 it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and investor confidence. Feb 26, 2025 · It builds on bp’s distinct strengths and competitive advantages as an integrated energy company – with a world-class portfolio with top tier oil and gas businesses in attractive basins and leading integrated positions and brands across value chains, all underpinned by trading, technology, and partnerships. 8 billion into the joint venture by 2030 Feb 4, 2025 · BP puts the brakes on multimillion-dollar renewables project Down Under UK supermajor to “rephase” Kwinana fuels scheme as costs escalate BP's oil refinery at Kwinana, Western Australia, was Nov 30, 2023 · BP has agreed to take full ownership of Lightsource BP, buying the remaining 50% stake in its solar power joint venture as part of the British oil giant's drive to build up its renewable energy Feb 26, 2025 · BP is slashing its investment in energy transition activities and seeking a new partner for Lightsource BP, the renewables developer fully owned by the oil and gas giant. The move aims to address investor concerns over earnings and follows the company’s underperformance in recent years compared with rivals such as Shell, Exxon and Chevron. We are investing in renewables, including offshore wind, in a capital-light way with an intense focus on competitive returns, maximizing partnerships to combine capabilities and access external financing. Jun 1, 2021 · bp reached an agreement today to purchase 9GW of solar development projects in the US from independent US solar developer 7X Energy. Over the same period, bp’s oil and gas production is expected to reduce by at least one million barrels of oil equivalent a day, or 40%, from 2019 levels. This is part of its strategy to cut costs and boost returns amid investor pressure. Feb 26, 2025 · BP has reversed its green energy strategy, increasing oil and gas investments while cutting renewables spending, following pressure from investors like Elliott Management. Feb 26, 2025 · "The UK government and regulatory bodies like Ofgem are dedicated to achieving renewable energy targets, and any significant deviation by major players like BP could prompt regulatory responses to ensure progress towards these goals. CEO Bernard Looney's pursuit of green energy outstripped all rivals three years ago when Feb 26, 2025 · BP said it would increase annual oil and gas spending to $10 billion and cut planned annual investment in energy transition businesses by more than $5 billion. It is widely expected to say later this month that it will scale back renewable projects and Dec 11, 2024 · Simply sign up to the Renewable energy myFT Digest -- delivered directly to your inbox. Feb 11, 2025 · The Lingen project in Germany is set to produce a substantial amount of green hydrogen using renewable energy from offshore wind. Feb 26, 2025 · Vicki Chilton, artner in the energy & infrastructure team at law firm Birketts, said: “BP's decision to shift focus from green energy to oil and gas production could have several legal and Sep 18, 2024 · BP’s decision to divest its U. Oct 7, 2024 · BP scales back its energy transition, abandons oil and gas targets Offshore Technology previously reported that the energy giant was pondering a move away from renewables in the hope of better longer-term financial returns. In line with bp’s strategic drive to deliver a simpler, more focused, higher value company. Photo: Shutterstock/Jon Lyall Aug 4, 2020 · By 2030, bp aims to have developed around 50GW of net renewable generating capacity – a 20-fold increase from 2019 – and to have doubled its consumer interactions to 20 million a day. As Jul 23, 2025 · “Today marks a significant milestone in our journey to bring new forms of energy to our customers as we support their changing mobility needs, while leveraging the best of bp and TA,” explains Debi Boffa, CEO of TravelCenters of America. The plant will convert 200 GWh/yr of Iberdrola’s renewable energy into green hydrogen that will contribute to bp’s decarbonization strategy, in another Jan 17, 2022 · bp and the Ministry of Energy and Minerals in Oman today signed a Strategic Framework Agreement (SFA) and a Renewables Data Collection Agreement which will support the potential development of a multiple gigawatt, world-class renewable energy and green hydrogen development in Oman, by 2030. In order to support this effort, the company has announced a global hiring spree in the field of renewable energy. Renewables and power Disciplined investment in the transition bp mostly produces, trades and sells oil and gas, alongside transition activities such as EV charging, bioenergy and renewables, that are a much smaller but key part of our business. Feb 26, 2025 · BP has slashed planned investment in renewable energy and said today it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and Jul 31, 2025 · News of bp’s intended exit from the AREH and broader Australian hydrogen market comes as another blow to the country’s prospects of becoming a “ renewable energy superpower,” with hydrogen Oct 28, 2024 · The Australian Renewable Energy Hub (AREH), a massive green hydrogen production plant proposed to be set up in Western Australia, is expected to launch initial operations by the early 2030s, with green ammonia exports anticipated in the mid-2030s. Nov 20, 2023 · HOUSTON – bp (NYSE: BP) has completed a major technology upgrade at its Fowler Ridge 1 wind farm in northwest Indiana that will enable the site to produce more power, more efficiently and with greater reliability. Aug 6, 2025 · These discoveries come after bp's energy transition strategy appeared to stall. Apr 3, 2025 · The UK-listed energy major pledged at the end of February to pivot back to its core oil and gas business and slash its spending on renewable energy in a bid to revive its faltering share price. L), opens new tab slashed planned investment in renewable energy and said on Wednesday it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and shareholder returns. The oil company had first bought a 40. Feb 26, 2025 · 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 Feb 27, 2025 · bp says fossil fuel reset follows "misplaced optimism" for a fast energy transition, with renewable hydrogen plans the hardest hit, including three mega-projects in Australia. Oct 21, 2024 · The timeline for the massive Australian Renewable Energy Hub has been pushed out to 2029 for first power and 2030s for green hydrogen and ammonia production. Jul 24, 2025 · BP has exited the gigantic Australian Renewable Energy Hub, which would feature up to 26GW of upstream wind and solar, much of which would have been used produce hydrogen and ammonia. bp is seeking to sell a 50% stake in its solar unit, Lightsource bp, to a strategic partner, aiming for cash and future investment commitments. Stay up to date with Lightsource bp news and insights about all things surrounding renewable energy and solar power projects. Credit: jon Lyall/Shutterstock. Feb 26, 2025 · BP slashes planned investment in renewable energy and is increasing annual oil and gas spending. The new Annual Report, based on 2024 results Feb 24, 2025 · BP ‘s chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil fuels, as part of a strategy shift announced on Wednesday to tackle Mar 7, 2023 · LONDON, March 7 (Reuters) - BP hasn't fallen out of love with renewables. bp will look to unlock further value by bringing a strategic partner into the business in due course. However, inflated costs, uncertainties about government subsidies upon which renewables depend, and rapidly rising energy costs for consumers have convinced them to return to basics. However, after a downturn in profits in 2024, the business announced that it will cut its renewable investments by more than US$5bn per year and ramp up its Feb 26, 2025 · BP has announced it will cut its renewable energy investments and instead focus on increasing oil and gas production. The company continued to invest in the energy transition with projects across green hydrogen, EV charging and natural gas. Nov 18, 2024 · Investors pushed oil and gas companies toward renewable energy around the pandemic. Feb 24, 2025 · In 2020, Mr Looney pledged to grow BP’s renewable energy capacity to 50 gigawatts (GW) by the end of the decade, implying massive investment in wind and solar farms. 3% in 2019 Leaning further into bp’s strategy: Investing more in the energy transition and bp’s transition, investing more in supporting energy security and energy affordability today Feb 11, 2025 · Oil giant BP has said it will "fundamentally reset" its strategy as profits dropped sharply last year. The MoU was signed by bp, Egypt’s New and Renewable Energy Authority (NREA), the Egyptian Electricity 5 days ago · Clean energy can also provide opportunities for new revenue. Mar 19, 2025 · In 2024, bp’s operational Scope 1 and 2 emissions were 38% lower than in 2019 – but increased from 2023. Meanwhile, in Spain, bp and Iberdrola formed a joint venture to develop a 25MW green hydrogen project that will support the decarbonization of bp’s refinery operations in Castellón. The project Dec 9, 2024 · bp entered into long-term LNG supply agreements with Chubu Electric Power Company in 2012 and Tokyo Electric Power Company in 2014. Sep 19, 2024 · British oil and gas company BP announced Monday that it would soon be selling its onshore wind business, BP Wind Energy, as the company shifts to focus on its other renewable interests. At bp this year, we helped to supply a share of the energy that the world wants and needs. bp will supply renewable ‎energy to Microsoft across multiple countries and regions including the US, Europe and Latin ‎America. Landfill gas, a natural byproduct of the decomposition of Mar 13, 2024 · Australia’s Macquarie Group has divested its 15% stake in the Australian Renewable Energy Hub (AREH) project, a massive green hydrogen production plan in Western Australia underpinned by 26 GW of wind and solar generation capacity. The energy giant revealed the shift in strategy on Wednesday following Dec 8, 2022 · bp signed a memorandum of understanding (MoU) with the Government of Egypt under which it will explore the potential for establishing a new green hydrogen production facility in the country. In a further row back of climate targets the company has said Oct 7, 2024 · BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge Feb 26, 2025 · British energy company BP has confirmed it is to slash spending on green ventures and up its oil and gas production. Jul 25, 2025 · BP Plc (LON:BP) will exit the Australian Renewable Energy Hub (AREH) project, a massive green hydrogen and renewables complex in Western Australia, in yet another step to shift its focus back to its core oil and gas business. Archaea Energy is the largest renewable natural gas (RNG) producer in the US. The company's profits more than doubled to $27. Mar 12, 2025 · BP has been a leader in the energy transition since 2020, when its goal was 40% renewables by 2030. Mar 14, 2025 · bp recently announced plans to reduce renewable energy investments and increase annual oil and gas investments to $10bn. In August JERA Nex, JERA’s global renewable energy business, acquired two US solar projects with capacity totalling 395MW from Lightsource bp. Feb 25, 2025 · BP Plc is set to announce a potential sale of its lubricants business and abandon plans to cut oil and gas output as it embarks on a shift away from renewable energy amid pressure from activist Feb 26, 2025 · BP will boost investment in oil and gas while walking back a push for more renewable output, the British oil and gas multinational announced on Wednesday. Apr 29, 2025 · Under the reset plan announced February, BP targets $20 billion in divestment proceeds by 2027, including from solar developer Lightsource BP Renewable Energy Investments Ltd. In low carbon energy, bp has quadrupled its renewables development pipeline since the end of 2019, from 6GW to 24. Dec 9, 2024 · British oil giant BP announced Monday it will “significantly reduce” investment in renewable energy through to 2030, as it combines its offshore wind business with that of Japanese power Jun 27, 2024 · BP's new CEO Murray Auchincloss has imposed a hiring freeze and paused new offshore wind projects as he places a renewed emphasis on oil and gas amid investor discontent over its energy transition Feb 24, 2025 · BP is expected to announce a strategic shift back to oil and gas, abandoning its previous target to significantly expand renewable energy capacity. Feb 11, 2025 · The energy giant was vague on details, but analysts say the changes is likely to include less spending on renewable sources and a bigger investment in oil and natural gas production. Feb 26, 2025 · BP slashed planned investment in renewable energy and said on Wednesday it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and Feb 26, 2025 · BP has announced it will cut its renewable energy investments and instead focus on increasing oil and gas production. bp to integrate development of onshore renewable power into Lightsource bp. Feb 7, 2023 · Energy giant BP has reported record annual profits as it scaled back plans to reduce the amount of oil and gas it produces by 2030. With this project, BP aims to position Australia as a leading exporter of green hydrogen, contributing to the growing global demand for renewable energy. After a downturn in profits in 2024, the business announced that it will cut its renewable investments by more than US$5bn per year and ramp up its commitment to fossil fuels. BP and Shell spent a combined $18bn over five years to become major players in electricity. onshore wind energy assets, shifting focus to solar energy with the goal of streamlining its renewable energy portfolio. 7bn (£23bn) in Apr 3, 2025 · BP is shutting its team looking into hydrogen and liquefied natural gas for transport, especially trucks, a BP spokesperson said on Thursday, a move which does not affect its electric vehicle Feb 3, 2025 · BP has put plans for a $600 million renewable fuel hub at its mothballed Perth oil refinery on hold, the latest clean energy project to be put on ice as developers reconsider the level of demand Mar 17, 2025 · BP plans to sell 50% of Lightsource BP to a strategic partner, with bids due in June. In a further row back of climate targets the company has said renewable energy investment will fall by $5bn (£3. This was reduced in 2023 to 25% renewables by 2030. As a leading developer, financier and operator of utility-scale renewable energy Oct 30, 2024 · 'Lightsource bp expands bp's presence globally in the onshore renewable energy industry, with a 62GW development pipeline and operations spanning 19 global markets'. Feb 24, 2025 · BP has reportedly lost interest in renewable energy and will announce the elimination of its 2030 production goals this week. Oct 7, 2024 · Offshore Technology previously reported that the energy giant was pondering a move away from renewables in the hope of better longer-term financial returns. We work with utilities, businesses, local communities and governments to help meet the rising demand for affordable, reliable and sustainable energy. "BP Wind Mar 19, 2025 · In 2024, bp’s operational Scope 1 and 2 emissions were 38% lower than in 2019 – but increased from 2023. Dec 27, 2024 · Major European energy companies doubled down on oil and gas in 2024 to focus on near-term profits, slowing down - and at times reversing - climate commitments in a shift that they are likely to Apr 17, 2025 · Seeking to rebuild investor confidence and boost near-term shareholder returns, BP in February pledged to slash renewable spending and ramp up annual expenditure on its core business of oil and gas. Feb 26, 2025 · BP (BP) has announced a significant reduction in its renewable energy investment, slashing it by about $5 billion annually to between $1 billion and $2 billion, while simultaneously increasing Feb 26, 2025 · Oil and gas giant BP has again slashed its renewable energy investment and announced more funding for greater fossil fuel production. It just wants to have more power. Take a look at our achievements in 2024 Sep 16, 2024 · Aims to divest existing US onshore wind energy business, with interests in ten operating wind assets, net total generating capacity 1. Feb 26, 2025 · Oil and gas giant BP has again slashed its renewable energy investment and announced more funding for greater fossil fuel production. Feb 26, 2025 · BP slashed planned investment in renewable energy and said Wednesday that it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and Feb 24, 2025 · Feb 24 (Reuters) - BP's chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil fuels, as part of a strategy shift announced on Jun 28, 2024 · When the news arrived that BP (LON: BP) was scaling down its renewable energy ambitions, it didn't hold much of a surprise. bp acquired TravelCenters of America in 2023, adding more than 300 sites to bp’s retail network. S. Aug 4, 2020 · UK oil and gas giant BP Plc (LON:BP) wants to have developed about 50 GW of renewables capacity by 2030, up from 2. 5% operating stake in the project back in 2022, when it was still pursuing an May 5, 2025 · Shell 'weighs BP takeover' amid renewable energy retreat Shell said to be examining merits of acquisition of giant rival whose strategy shift from net zero has yet to convince investors BP's logo. Feb 26, 2025 · The oil and gas producer faces criticism for its shift away from green energy, but many support it. Dec 9, 2024 · British oil giant BP announced Monday it will "significantly reduce" investment in renewable energy through to 2030, as it combines its offshore wind business with that of Japanese power company Jera. Now the oil Feb 26, 2025 · BP has announced it will cut its renewable energy investments and instead focus on increasing oil and gas production. 58bn). Jul 24, 2025 · BP said it will pull out of its role in the Australian Renewable Energy Hub, a planned massive green hydrogen production facility in Australia. zyqu rwhgyq kjhmmvye zmmke jxli equoyhq mgmkep eqk pjci hgfxr