BP is pushing back plans to make renewable fuels at the site of its former Kwinana oil refinery in Australia, the latest step in the company's broader cost-cutting drive.

BP Plc is pushing back plans to make renewable fuels on the site of its former Kwinana oil refinery in Australia, amid a broader cost-cutting drive within the company.

UK energy giant BP has hit pause on a clean fuels project worth around a A$1 billion (US$619 million) at its under-construction Kwinana energy hub in Western Australia.

Oil major BP is expected to spend up to $25 billion over the lifetime of a project to redevelop four Kirkuk oil and gas fields, a senior Iraqi oil official told Reuters, as Baghdad seeks to win back foreign investment.

BP (NYSE:BP), the oil giant, is projected to invest between $20 billion and $25 billion in the redevelopment of four oil and gas fields in Kirkuk, according to a Tuesday report by Reuters. This investment,