News

BP increases fossil fuel spending, cuts renewable investments

BP to cut renewable investment, increase fossil fuel spending, aiming for $10 billion annual oil and gas investment by 2027.

Published

1 year ago

February 27, 2025

ticker NEWS

BP to cut renewable investment, increase fossil fuel spending, aiming for $10 billion annual oil and gas investment by 2027.

In Short

BP plans to raise its oil and gas investment to $10 billion annually through 2027 while cutting renewable energy spending to between $1.5 billion and $2 billion. The company is shifting focus to enhance financial performance, a move that surprises sustainability-focused investors.

British oil major BP announced plans to significantly increase its investment in oil and gas, raising the annual budget to $10 billion through 2027.

This move marks a strategic shift for the company, which also aims to lower its total annual capital expenditure to between $13 billion and $15 billion. BP is targeting $20 billion in asset divestments by the end of the same period.

Investment in renewable energy will be considerably reduced, likely falling to between $1.5 billion and $2 billion annually, far below previous projections of over $5 billion.

CEO Murray Auchincloss stated that the strategy is designed to drive growth and improve performance by reallocating capital to higher-returning areas.

BP is expected to provide more details about this strategic reset during its upcoming Capital Markets Update, which will include presentations from leadership.

Analysts view this event as crucial for BP, especially following interest from activist investor Elliot Management.

News

Iran live updates: Rubio warns hardest US strikes yet to come as toll rises

Published

2 hours ago

March 3, 2026

Ahron Young

What’s happening in the Middle East?

President Donald Trump says Iran’s Supreme Leader Ayatollah Ali Khamenei has been killed, with Iran now entering a transitional period under a three man leadership council
Trump says U.S. strikes on Iran could last four to five weeks, outlining objectives including destroying missile capabilities, dismantling Iran’s navy and preventing it from obtaining a nuclear weapon
The U.S. military confirms four American service members have been killed, and the White House says U.S. forces have destroyed and sunk nine Iranian naval ships
Iran says it sees “no limit” to its right to self defence and will not negotiate, as missile and drone attacks continue across Israel and Gulf states
More than 500 Iranians have been killed in U.S. and Israeli strikes, with additional deaths reported in Lebanon, Israel and the UAE
Shipping, aviation and energy markets have been disrupted, Qatar has halted LNG production, UAE stock markets have closed temporarily, and oil and gas prices have surged

News

Oil prices surge amid rising Middle East conflict risks

Crude oil surges 7% amid fears of Middle East conflict; Strait of Hormuz disruptions may push Brent over $100.

Published

3 hours ago

March 3, 2026

Harvey Vargas

Crude oil surges 7% amid fears of Middle East conflict; Strait of Hormuz disruptions may push Brent over $100.

Crude oil prices spiked dramatically as investors react to the growing risk of a wider conflict in the Middle East. U.S. crude surged 7.2 percent, trading near $71.84 a barrel, signalling heightened concern across energy markets.

The Strait of Hormuz, a critical shipping chokepoint, has come under intense scrutiny. Rising war-risk insurance premiums and suspended tanker traffic are already slowing the movement of oil, creating ripple effects in global supply chains.

JPMorgan has warned that prolonged disruptions over three weeks could force Gulf producers to reduce output, potentially pushing Brent crude prices to between $100 and $120 a barrel. Markets are closely watching for developments that could reshape global energy pricing.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

News

Trump warns of last opportunity to hit Iran as conflict escalates

Trump declares final chance to strike Iran, aiming to dismantle missile systems and prevent nuclear weapons amid U.S. troop losses.

Published

3 hours ago

March 3, 2026

Harvey Vargas

Trump declares final chance to strike Iran, aiming to dismantle missile systems and prevent nuclear weapons amid U.S. troop losses.

President Trump has declared this is the final opportunity to strike Iran as conflict intensifies across the Middle East, outlining four key military objectives including dismantling Iran’s missile capabilities and targeting its navy.

The U.S. says its mission is to prevent Iran from acquiring a nuclear weapon and to halt its alleged support for terrorist groups abroad, signalling a potentially prolonged campaign in the region.

Four U.S. troops have already been killed, with officials warning further casualties are possible as operations continue.

#Trump #Iran #MiddleEast

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker