Oil majors caught between pro-fossil fuel and pro-climate investors scale back $18bn power generation push

France24

France

Oil giant BP to ‘significantly reduce’ investment in renewable energy for rest of decade

Energy giant is to invest £3.3bn less in offshore projects by 2030

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The Telegraph

Press Holdings

David and Frederick Barclay

London

Greater London

England

United Kingdom

BP cuts stake in wind farms as it focuses on fossil fuels

British oil and gas company BP has announced it will significantly reduce its investment in renewable energy “for the remainder of the decade”.

Het Britse olie- en gasconcern BP heeft aangekondigd dat het zijn investeringen in hernieuwbare energie “voor de rest van het decennium aanzienlijk” zal verminderen.

Energieconcern BP schroeft investeringen in hernieuwbare energie terug

Het Nieuwsblad

Mediahuis

Belgium

Energy company BP is scaling back investments in renewable energy

BP chief executive Murray Auchincloss has scaled back on the group's key climate targets, putting more emphasis on oil and gas to boost profits.

Le Monde

Paris

Île-de-France

BP to 'significantly reduce' renewables investment

British oil giant BP is significantly reducing its investment in renewable energy for the “rest of this decade”, it said in a statement Monday, noting it was instead entering a joint venture with Japanese power company Jera to create one of the world’s largest offshore wind businesses. Since Murray Auchincloss became BP’s new chief executive in January, the company has scaled back on its climate targets.

Ad Fontes Media

Government of France

BP will "significantly reduce" its plan to invest $10 billion in offshore wind, instead budgeting just $3.25 billion.

Fortune

Chatchaval Jiaravanon

New York

United States

Crude awakening as BP slashes renewables investment, doubling down on oil and gas

The British oil company will therefore invest significantly less in renewable energies in the coming years than it had planned.

De britteschen Ueleg-Konzern wäert domadder an den nächste Joren bedeitend manner an erneierbar Energien investéieren, wéi an sech geplangt war.

Ueleg-Konzern deelt mat: BP wäert geplangten Investitiounen an erneierbar Energië reduzéieren

rtl.lu

Bertelsmann Stiftung

Luxembourg City

Luxembourg

Oil group announces: BP will reduce planned investments in renewable energy

Pedro Norton, CEO of Finerge, says that “this is the first PPA we signed and is a very important milestone for Finerge, which is part of our strategy to reduce the risk of assets exposed to market fluctuations”.

Pedro Norton, CEO da Finerge, refere que "este � o primeiro PPA que assinamos e � um marco muito importante para a Finerge, que se inscreve na nossa estrat�gia de reduzir o risco dos ativos expostos �s flutua��es do mercado".

Finerge assina o seu primeiro PPA em Espanha. Vai vender energia à BP por 10 anos

Jornal de Negócios

Cofina

Porto

Porto District

Portugal

Finerge signs its first PPA in Spain. Will sell energy to BP for 10 years

However, the British oil company distinguished itself in 2020 with an ambitious carbon neutrality plan.

La pétrolière britannique s’était pourtant distinguée en 2020 avec un ambitieux plan de neutralité carbone.

Comme Shell, BP fait marche arrière sur les énergies renouvelables

Le Devoir

Montreal

Quebec

Canada

Like Shell, BP is going backwards on renewable energies

Financial Times

Nikkei Inc.

BP and Shell rein in electricity ambitions to escape ‘valley of death’

BP and JERA agreed to combine their global offshore wind portfolios, committing up to $5.8 billion in capital by 2030.

BP and Shell rein in electricity ambitions to escape ‘valley of death’

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