BP ditches climate targets in pivot back to oil and gas

Quick Summary:

LONDON: British energy giant BP launched a major pivot back to its more profitable oil and gas business on Wednesday (Feb 26), shelving its once industry-leading targets on reducing carbon emissions and slashing clean energy investment.

Auchincloss had already put emphasis on oil and gas to boost profits, scaling back on the group's key climate targets since taking the helm at the start of 2024.

The head of the French giant was speaking Tuesday at International Energy Week, an annual gathering in London of major players from across the sector.

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Category: EconomyBusiness

Markets: Singapore

Topics: Targets Energy Year Investment Emissions Billion Fossil Group Major Cent Wednesday

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-26 @ 21:10:32 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 650 words

Reading Time: 4 minutes read

Sentences: 28 lines

Sentence Length: 24 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 26459140

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