Five years ago, BP set some of the most ambitious targets among large oil companies to cut production of oil and gas by 40% by 2030, while significantly ramping up investment in renewables. In 2023, the company lowered this oil and gas reduction target to 25%.

UK energy company BP has signed an agreement with the Iraqi government to invest in several giant oilfields in Kirkuk, in a move expected to provide a big boost to the Opec producer's energy production.

BP (NYSE:BP) and Iraq's government have signed a deal to redevelop four Kirkuk oil and gas fields, Iraq's state news agency reported Tuesday, marking a breakthrough for the country, where production has been hampered by years of war,

BP CEO Murray Auchincloss is announcing plans to ditch the company's goal of growing renewable generation capacity 20-fold by 2030 and instead return focus to fossil fuels, Reuters reports. The goal measured growth from 2019 figures.

BP CEO Murray Auchincloss will tell investors the company is abandoning its target to grow renewable generation capacity 20-fold between 2019 and 2030 to 50 gigawatts.

A new report claims BP (BP) has lost interest in renewable energy as it refocuses on its fossil fuel business. Insider sources told Reuters the