British oil giant BP reportedly will announce plans to abandon its renewable generation goals this week in an effort to boost earnings. 

BP CEO Murray Auchincloss will tell investors at the company’s capital market day on Wednesday that it will ditch its target to grow renewable generation capacity 20-fold by 2030 and instead refocus on fossil fuels to address low earnings, two sources told Reuters. 

In the past several years, BP has faced earnings trouble, with the company reporting last October a 30% drop in third-quarter profit to $2.3 billion, the lowest in nearly four years. Its market capitalization has suffered, even as competitors, such as Exxon Mobil, Shell, and Chevron, have seen gains.

Auchincloss earlier this month promised the company would undergo “a fundamental reset” to combat its low earnings. Last year, the company also ditched its goal of cutting oil and gas output by 2030 to regain investors’ confidence in its ability to boost profits. 

The company plans to get rid of its core earnings goal of $49 billion this year and instead set an annual percentage growth target, the sources noted. Last year, BP failed to reach its core earnings target of $40.9 billion.

BP also plans to divest assets and slash other low-carbon investments to reduce debt and increase returns, the sources told Reuters.

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The company did not respond for comment on the matter. 

BP’s announcement comes as the Trump administration seeks to boost the oil and gas industry by making it easier to drill.