Our strategy

We aim to create value for our investors and benefits for the communities and societies where we operate

We are pursuing our strategy by setting clear priorities, actively managing a quality portfolio and employing our distinctive capabilities. We prioritize value over volume by actively managing a high-value upstream and downstream portfolio. We aim to create share-holder value by growing sustainable free cash flow and distributions over the long term.

Clear priorities

First, we aim to run safe, reliable and compliant operations – leading to better operational efficiency and safety performance. We target competitive project execution to deliver projects as efficiently as possible. Making disciplined financial choices focused on capital and cost discipline allows us to maximize free cash flow and increase the resilience of our portfolio to changing price environments.

Quality portfolio

We undertake active portfolio management to concentrate on areas where we can play to our strengths. We focus on high-value upstream assets in deep water, giant fields, selected gas value chains and unconventionals. And, in our downstream businesses, we plan to leverage our upgraded assets, customer relationships, brand and technology to continue to grow free cash flow. Our portfolio of projects and operations is focused where we believe we can generate the most value, using our commercial agility and technical capability. This allows us to build a strong pipeline of future growth.

Distinctive capabilities

Our ability to deliver against our priorities and build the right portfolio depends on our distinctive capabilities. We apply advanced technology across the hydrocarbon value chain, from finding resources to developing energy-efficient and high-performance products for customers. We work to develop and maintain strong relationships – with governments, partners, civil society and others – to enhance our operations in more than 70 countries across the globe. And the proven expertise of our employees comes to the fore in a wide range of disciplines.

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