0847 GMT - BP investors are cheering its work to slash debt, as the U.K. energy company shifts its focus back to oil and gas, AJ Bell's Dan Coatsworth says. "One of the key worry points for investors over BP is its balance sheet. In that context, it's not a surprise to see significant debt reduction get a warm reception," Coatsworth says. While continuing volatility in energy markets makes forecasting the near-term outlook for the industry difficult, BP's move away from renewables and back toward hydrocarbon operations looks set to continue, he says. BP's charges of around $1 billion in its gas and low-carbon energy transition businesses and Shell's agreement to sell an Indian renewables business reinforce the trend, according to Coatsworth. BP shares rise 2.4%. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

July 14, 2026 04:47 ET (08:47 GMT)

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