Energy company bp Trinidad and Tobago’s says its business strategy is aligned with British parent BP’s focus on growing upstream business.

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BP, the British Oil major, said it is refocusing the company on its core oil and gas business and reducing investments in clean energy.

In addition to divesting $20 billion of assets, BP plans to slash investments in renewables and boost growth elsewhere.

BP said it would increase annual oil and gas spending to $10 billion and cut planned annual investment in energy transition businesses by more than $5 billion.