BP will raise oil and gas investment to $10 billion while cutting green spending, CEO Murray Auchincloss said. | One of India ...

LONDON (AP) — British energy company BP confirmed Wednesday that it would slash spending on green ventures and increase its ...

On Wednesday the company said it now plans to increase investment in oil and gas exploitation by 20 percent, to around $10 ...

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The energy giant said it would cut planned investment in clean energy and redirect spending toward fossil fuels.

In addition to divesting $20 billion of assets, BP plans to slash investments in renewables and boost growth elsewhere.

BP said it would increase annual oil and gas spending to $10 billion and cut planned annual investment in energy transition businesses by more than $5 billion.