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BP to boost oil and gas investment to $10 bn
Mint Hyderabad
|February 27, 2025
BP slashed investment in renewable energy and said on Wednesday that it will increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and shareholder returns.
The oil major cut planned annual investment in energy its transition businesses by over $5 billion, from its previous forecast, to between $1.5 billion and $2 billion per year.
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