By Stanley Reed Reporting from London BP, the energy giant, said on Wednesday that it would increase spending on oil and gas while sharply paring back investments on various forms of clean energy.

LONDON—BP BP0.32%increase; green up pointing triangle said it would boost oil-and-gas production and sharply cut investments in clean energy, pivoting back to fossil fuels in a bid to revive its ...

BP now aims to grow oil and gas production. Across the energy sector, major companies that shifted their position in response to the need to lower carbon emissions and curb climate change have ...