BP Scraps Renewable Target
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total renewable capacityReuters
•Business
Business & Economics
Exclusive-BP to ditch renewables goals and return focus to fossil fuels

79% Informative
BP 's shares have underperformed rivals in recent years and the oil major has already dropped its target to cut oil and gas output by 2030 .
CEO Murray Auchincloss will tell investors the company is abandoning the target to grow renewable generation capacity 20-fold between 2019 and 2030 to 50 gigawatts.
BP declined to comment.
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