Business TREND. Cut Oil Production. Invest in Renewables. The Numbers:

Which company is cutting its oil production by 40%? BP

When will it cut production by 40%? over the next 10 years

What is BP’s zero emission goal? 2050

What will the 40% cut in oil look like for BP?

• By 2030, a cut of at least 1 million barrels per day
• By 2030, lower emissions from operations by 30 to 35%
• By 2030, accelerate investment in renewables & biofuels by 10-fold to around $5 billion per year

From the CEO: “Now we are pivoting to become an integrated energy company. …This coming decade is critical for the world in the fight against climate change, and to drive the necessary change in global energy systems will require action from everyone.”

From a London, England energy transition think tank: “BP has radically changed the game,”

Houston Chronicle | BP to cut oil and gas production by 40% over 10 years