BP softened the language on its pledge to cut its 2030 oil and gas output in an effort to reassure investors over its energy transition strategy and narrow a...
LONDON - BP softened the language on its pledge to cut its 2030 oil and gas output in an effort to reassure investors over its energy transition strategy and narrow a gaping value gap with rivals.
Speaking to Reuters on Tuesday after BP announced $2.7 billion in first quarter profits, Auchincloss said BP may overshoot or undershoot the 2030 target. "And as we make those decisions on a returns-based approach, that will help inform what we think our production will be in 2030, but I am focused on returns and cash flow, not volume," Auchincloss said.Earlier this year, Shell CEO Wael Sawan also watered down the company's emission reduction targets, citing expectations for strong gas demand and uncertainty about the energy transition as he also seeks to boost Shell's shares.
Bernard Looney Energy Transition Oil And Gas Oil Company
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AI could add 1 million tons to copper demand by 2030, says TrafiguraExplore stories from Atlantic Canada.
Read more »
Canada’s 2030 Defense Spending Plan Falls Short of NATO TargetCanada's defense spending plan for 2030 does not meet the target set by NATO.
Read more »
$349B needed now to close infrastructure gap by 2030, Assembly of First Nations says in reportAssembly of First Nations National Chief Cindy Woodhouse Nepinak in her downtown Ottawa office in January 2024.
Read more »
Assembly of First Nations says $349B is needed to close infrastructure gap by 2030OTTAWA — The Assembly of First Nations says decades of underfunding and failed fiduciary duties have created a $349-billion infrastructure gap.
Read more »
Assembly of First Nations says $349B is needed to close infrastructure gap by 2030OTTAWA — The Assembly of First Nations says decades of underfunding and failed fiduciary duties have created a $349-billion infrastructure gap.
Read more »
Assembly of First Nations says $349B is needed to close infrastructure gap by 2030OTTAWA — The Assembly of First Nations says decades of underfunding and failed fiduciary duties have created a $349-billion infrastructure gap.
Read more »