BP said Monday it will drop a pledge to cut its oil production 25% by 2030. Critics slammed the move, but should not be surprised by it.

BP has reportedly abandoned its target to cut oil and gas production by 2030 as its new chief executive scales back a switch to green energy to boost its share price. Murray Auchincloss, who took over from Bernard Looney in January,

During the meeting Badawi reaffirmed Egypt's strong support for bp’s efforts to develop its concessions in the Mediterranean Sea. Egypt collaborates with bp, ExxonMobil for oil and gas expansion. Egypt,

Global energy major BP said on Wednesday it is holding a board meeting in India this week, as it scouts for more opportunities in the

When unveiled in 2020, BP's strategy was the sector's most ambitious with a pledge to cut output by 40% while rapidly growing renewables by 2030.

By Ron Bousso LONDON (Reuters) -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 of the matter said.

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 of the matter said.