BP to reduce renewable energy costs on oil and gas

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The BP will spend $ 10 billion a year for production of more oil and gas, reduce the cost of renewable energy sources and sell assets of $ 20 billion, as it tries to revive its investor Ellion activist.

On Wednesday, the major, who lists in the UK, on ​​Wednesday, which will turn out of the five -year plan that secured his future on renewable energy.

The presentation on Wednesday for investors was the first time when Murray Achinclos, which officially became the head in January 2024, outlined his vision PP.

The group was under heavy pressure to increase its effectiveness after this month appeared in the US Hedge Fund built nearly 5 percent stake stock The company is £ 72 billion FTSE 100.

Auchincloss said on Wednesday: “Today we fundamentally dropped the BP strategy. We are cutting and redistributed by capital costs to our highest business for growth, and tirelessly pursuing improvement in efficiency and economic efficiency.”

This is a developing story.