BP Shifting Strategy Toward Clean Energy Production

BP is focusing on clean energy, planning a tenfold increase in low carbon investments to $5 billion by 2030, and aiming for net zero emissions by 2050. To fund this shift, BP will cut dividends and has already implemented a restructuring plan with 10,000 job cuts. The pandemic has accelerated these plans due to reduced fuel demand, and BP expects a 40% drop in oil and gas production over the next decade.

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