Though most majors have released 2024 results and plans for 2025, bp’s announcements grabbed the headlines. As laid out in our 2025 Look Ahead and predicted by many, CEO Murray Auchincloss confirmed that the company will scrap its target to reach 50 GW of renewable energy by 2030 and reverse plans to reduce oil and gas production as part of an effort to improve returns. How does this decision compare to other Majors and what is the state of energy transition strategy for these companies?

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