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According to Sinochem New Network, BP recently announced that it is accelerating its return to upstream oil and gas operations. Its U.S. onshore subsidiary, BPX Energy, plans to increase shale oil production by 8% this year, reaching 500,000 barrels of oil equivalent per day, with the goal of raising this figure to 650,000 barrels of oil equivalent per day by 2030. At the same time, the company intends to cut its capital expenditures by $800 million. This production increase plan is in line with the overall cautious tone of the U.S. shale industry at present******. Against the backdrop of frequent oil price fluctuations, most independent shale producers choose to maintain stable production levels and adhere strictly to capital discipline. BPX Energy’s expansion against the odds reflects a fundamental shift in BP’s strategic focus. BP is shifting from the aggressive green energy investments made in the past few years to upstream oil and gas projects with higher returns. By 2025, BPX Energy had become the main driver of the company’s global production growth, contributing to a 2.6% increase in BP’s overall production for the year. Under the new strategy, BP plans to launch 10 new major upstream projects by 2030, thereby increasing its global production to 2.3 million to 2.5 million barrels of oil equivalent per day. This strategic shift was prompted by shareholder pressure. Over the years, BP’s aggressive investment in energy transition has resulted in stock performance that lags behind that of its peers, while rising debt levels have led to dissatisfaction among investors. Shareholders such as the hedge fund Elliott Investment Management continue to exert pressure for reforms. In February, BP announced a suspension of its stock buybacks and gave up its goal of returning 30% to 40% of its operating cash flow to shareholders, focusing instead on strengthening its balance sheet.