BP Hints That Its Goal to Cut Oil and Gas Output Could Be Flexible

As BP looks to please shareholders with higher returns and stock valuations, the UK-based supermajor is suggesting that a previous goal to reduce its oil and gas production by 2030 is now flexible and would depend more on returns rather than on volumes.   BP has to decide in the coming years whether to proceed with more than 30 planned projects across its businesses, new CEO Murray Auchincloss told Reuters this week. “And as we make those decisions on a returns-based approach, that will help inform what we think our production…