BP's chief executive will scrap a target to increase renewable generation 20-fold by 2030, returning the focus to fossil fuels, as part of a strategy shift announced on Wednesday to tackle investor ...

and its service station network. The move follows a broader industry trendShell and other oil majors are doubling down on fossil fuels as prices rebound, and investors demand better returns. BP ...

Elliott wants BP to cap green spending, ditch renewable energy capacity targets, and sell off its wind and solar power generation business and potentially its Castrol lubricants, service stations ...

BP would also benefit from selling its Castrol lubricants and its network of service stations to unlock value and boost share buybacks, added the source, who also asked not to be named.