Wednesday, July 23, 2025
Exclusive-BP drops oil output reduction target in strategy reset, sources say- oil and gas 360

Exclusive-BP drops oil output reduction target in strategy reset, sources say

(U.S. News) – LONDON -BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm’s energy transition strategy to regain investor confidence, three sources with knowledge of the matter said. When unveiled in 2020, BP’s strategy was the sector’s most ambitious with a pledge to cut output by 40% while

Brent crude passes $80 on expected Israeli attack on Iran- oil and gas 360

Brent crude passes $80 on expected Israeli attack on Iran

(Oil Price) – Brent crude on Monday was up nearly 3%, breaking past the $80 threshold as markets attempted to cautiously price in a potential supply disruption should Israel attack Iran’s oil and gas facilities. On Monday at 11:43 a.m. ET, Brent crude was trading up 2.86% at $80.28, for a gain of $2.23 on the day, while the U.S. benchmark,