More importantly, BP said it would be producing more oil and gas for longer and increase investment into oil and gas projects by an average of up to $1 billion a year, or up to a cumulative $8 billion to 2030. As a result of these changes, BP anticipates its oil and gas production will be around 2.3 million barrels of oil equivalent a day in 2025 and aims for it to be around 2.0 million boe/d in 2030. This 2030 production would be around 25% lower than BP's production in 2019, excluding production from Rosneft, compared to BP's previous expectation of a reduction of around 40%. BP now aims for a fall of 20% to 30% in emissions from the carbon in its oil and gas production in 2030 compared to a 2019 baseline, lower than the previous aim of 35-40%.