BP announced a significant increase in investment in oil and gas, raising spending by 20% to $10bn annually, while cutting renewable energy investment by 70%. This shift follows a reduction in their previous commitment to decrease oil and gas output by 40% by 2030, now set at 25%. CEO Murray Auchincloss stated that the strategy aims to regain investor confidence after BP's valuation lagged behind competitors. The company plans to sell assets to raise at least $20bn by 2027, amidst changing political pressures on sustainability. Article complet (Euronews.com)