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.

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.

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,