Release date: 16 October 2019
Bernard Looney is to succeed CEO Bob Dudley, who will step down in February 2020 after nearly a decade at the top.
Among his many achievements, Dudley reset BP’s strategy for the energy transition.
Last year, he introduced the carbon-cutting Reduce Improve Create framework that is reducing emissions in our operations, improving products to help customers reduce their own emissions, and creating low carbon businesses.
As the current CEO of BP’s Upstream business, Looney has driven sustainable emissions reductions of almost 3 million tonnes CO2 equivalent in the past two years. He’s also encouraged BP to lead the industry on methane detection methods.
World-leading solar developer Lightsource BP is set to develop more low carbon energy and create jobs with eight new projects across two deals in the US.
A suite of seven solar projects in Pennsylvania, Kansas, California and New Mexico, generating 125 megawatts of power:
Construction of a 240-megawatt solar facility – one of the largest yet built in Colorado:
The danger of marginalizing gas’s vital role in a low carbon future was the subject of BP CEO Bob Dudley’s big speech at Energy Intelligence’s annual conference in London.
The event is a global gathering of senior industry figures and policymakers.
Dudley also made the point that gas will need to be decarbonized – and can be, setting out a four-step approach – the first two for the energy industry, and two others for governments:
Drones fitted with NASA tech are part of a wave of advanced technology zooming into operation at all BP’s new major oil and gas projects. And, some existing assets, such as the giant Khazzan gas field in Oman, have already been refitted with the technology too.
The high-tech kit is part of an industry-first BP programme to crack down on methane emissions.
Methane, the main component of natural gas, is a potent greenhouse gas if it escapes into the atmosphere.
In an industry first last year, BP set itself a goal to limit operational methane intensity from its Upstream operations to 0.2% out to 2025 – and is on track in meet it.
BP Ventures is investing in Grid Edge, whose technology allows users to predict, control and optimize a building’s energy profile.
The move supports BP Alternative Energy’s wider strategy in low carbon power, storage and digital energy.
Grid Edge’s technology can enable customers to lower carbon emissions by 10-15% typically, and by as much as 30%.
The company’s cloud-based software anticipates a building’s energy demand, allowing building managers to reduce their energy costs and carbon emissions, while maintaining comfort for users.
With the future of energy under intense scrutiny, where does the energy world go to find the facts?
One impartial, free-to-access source of data has been informing public debate for some 68 years. BP’s Statistical Review of World Energy draws on huge datasets and the big brains of our number-crunching economics team.
We’ve looked at the latest publication to get answers to three of the world’s pressing energy questions:
We’ll be back, when we’ll update you on: