BP to raise oil and gas spending to $10bn a year in pivot away from green goals

<p>Firm confirms plans to scale back green energy efforts and ‘fundamentally reset’ strategy</p><ul><li><a href="https://www.theguardian.com/business/live/2025/feb/26/airports-expansion-gatwick-heathrow-economy-bank-of-england-business-live-news">Business live – latest updates</a></li></ul><p>BP will abandon its green ambitions by increasing its oil and gas investment to $10bn a year as part of a fundamental reset of the troubled company’s strategy.</p><p>The company has confirmed that it will scrap its plan to cut its fossil fuel production and will instead grow production to 2.3m–2.5m barrels of oil a day by the end of the decade.</p> <a href="https://www.theguardian.com/business/2025/feb/26/bp-oil-and-gas-spending-green-energy-scale-back">Continue reading...</a>