Nearly a quarter of a century after stating its business was “Beyond Petroleum”, energy giant BP is to reduce its investment in renewable energy and focus again on increasing fossil fuels.
BP has announced that it be decreasing planned funding for renewables by more than $5bn (£3.9bn) and will instead increase investments in oil and gas by about 20% to $10bn (£7.9bn) a year.
The firm will increase its production to between 2.3 million and 2.5 million barrels of oil per...
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