BP's Slowing Transition Strategy Gives Reason for Another Look as Shares Still Undervalued

BP previously expected to reduce production by 25% by 2025 and 40% by 2030, but it will now increase production slightly through 2025 and reduce it by about 25% from 2019 levels by 2030, largely through divestments. During that time, it should also improve upstream profitability as higher-margin volumes from major projects come online and costs are reduced.