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flag BP reports a sharp profit fall and increased debt, pivoting to focus more on oil and gas.

flag BP reported a 49% drop in profits and a rise in debts to $27 billion, but claims significant progress on its new oil and gas-focused growth strategy. flag The company is shifting focus from renewable energy projects to boost profitability amid weaker oil prices and economic uncertainties. flag BP also reduced its 2025 capital investment outlook to $14.5 billion from $15 billion and may raise more funds through divestments.

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