Equinor, BP and Shell scale back renewables spending as they refocus on oil, gas and LNG

Several international oil majors, including Equinor, BP and Shell, are adjusting their energy-transition strategies by reducing capital spending on renewables and refocusing on more profitable core oil and gas operations. BP has sold its U.S. onshore wind assets, Equinor has dropped its 2030 installed renewables capacity target, and Shell has scaled back hydrogen and offshore wind projects. The shift reflects a renewed emphasis on capital discipline aimed at improving shareholder returns and cash flow.