Petroleum giant BP said on Wednesday that it plans to boost its annual oil and gas spending to $10 billion through 2027 as part of the company's reset after recent lackluster economic performance.
BP said on Wednesday it would increase annual oil and gas investment to $10 billion, returning the focus to fossil fuels, as part of CEO Murray Auchincloss' efforts to boost returns and improve financial performance.
BP Plc announced a major pivot back to its core oil and gas business and promised to sell assets and reduce spending, but also slowed the pace of its crucial share buybacks.
Iraq, BP agree to develop 4 Kirkuk fields
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