BP Set to Scrap Oil and Gas Production Cuts ...Middle East

BP is set to announce it would stop pursuing reductions in its crude oil and natural gas production in a bid to please its new major shareholder Elliott Management. The company had previously aimed to slash oil and gas production by 40% by 2030. The Financial Times reported, citing unnamed sources, that the U-turn in plans will be announced on Wednesday when BP is holding an investor day. Reuters reported a day earlier, also citing unnamed sources, that BP was also going to announce it would abandon its energy transition targets, featuring plans…

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