BP Stock News

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BP has scrapped its commitment to cut oil and gas production as CEO Murray Auchincloss shifts the focus back to traditional energy sources in response to investor demands for improved returns, according to a report by Reuters.

BP PLC (LSE:BP.) chief executive Murray Auchincloss will unveil a refined strategy early next year that will no longer include a target to cut oil and gas output by 2030.

BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said.

Britain's carbon capture and storage sector will get just under £22 billion worth of support from the government. Chancellor Rachel Reeves firmed up the plans overnight ahead of a visit to the northeast alongside prime minister Keir Starmer and energy secretary Ed Miliband on Friday, Following reports of the move earlier this week.

Britain's government is reportedly gearing up to unveil £22 billion worth of backing for the carbon capture and storage sector on Friday. Two so-called carbon capture clusters will be granted funding by the government under the plan, according to the Financial Times.

The Dividend Harvesting Portfolio reached an all-time high, up 24.24% on invested capital, generating $1,744.63 in forward dividend income with a 7.51% yield. I added to positions in Ford and BP, viewing them as undervalued with strong future potential due to favorable macroeconomic conditions. The portfolio's diversification aims to mitigate downside risk, with a focus on dividend-paying equit...