Release date: 9 September 2019
The UK’s electric vehicle drivers can look forward to quicker and convenient recharging with BP’s roll-out of hundreds of 150kW-ultra-fast chargers to its retail forecourts.
The first of 400 is now live on BP’s retail site in Cranford, near Heathrow Airport in West London, with the rest to follow fast over the next few years.
It’s the latest in a string of investments and innovations following the 2018 acquisition of Chargemaster, the UK’s largest charging network.
Since then, as BP Chargemaster, the company has:
“We’re gearing up for EVs to grow from the 200,000 on UK roads today to 6-8 million in 10 years’ time,” says BP Chargemaster CEO David Newton. “We aim to be ahead of the curve in creating a business that can help people switch to EVs as the world moves to a low carbon future.”
Meanwhile, BP has joined forces with leading mobile transportation platform DiDi to create a brand-new charging network in China ̶ home to more than half the world’s electric vehicles.
The move follows a successful pilot in May in the southern city of Guangzhou. The joint venture now plans rapid expansion of the network across the country, connecting more than half a billion users.
The ambition is to become China’s leading EV charging provider, and our latest move follows a series of investments with Chinese partners that support the development of the country’s EV ecosystem.
Tufan Erginbilgic, BP’s Downstream chief executive
BP has announced the sale of its Alaskan business to Hilcorp for $5.6 billion, a move that will bring about a large-scale reconfiguration of its US portfolio.
BP CEO Bob Dudley paid tribute to all those who helped build this ‘world-class business’ and the important role it has played in boosting both Alaska’s economy and America’s energy security over the past six decades.
“However, we are steadily reshaping BP and today we have other opportunities, both in the US and around the world, that are more closely aligned with our long-term strategy and more competitive for our investment,” he explained, adding:
Bob Dudley, BP group chief executive
This is 21-year-old Ronit Kanwar, whose fear of the dark led to a bright idea that’s changing the lives of families in parts of rural India.
The University of Oxford student set up a company called Empower Energy that enables rural families to use ‘life-and productivity-enhancing products’, starting with solar-powered lamps.
He was inspired by his own childhood experience of visiting his grandparents in Himachal Pradesh. Power cuts were common in the small village, leaving locals to either endure what Kanwar describes as ‘nightmarish’ hours in the dark or air-polluting kerosene lamps. Now, with a new, cleaner source of light, villagers can work or study longer into the evening.
After winning the BP-sponsored prize in the One Young World Lead2030 Challenge, Kanwar now has $50,000 and 12-months’ support from a BP mentoring team to develop the initiative further.
Kanwar said: “At Empower Energy, our goal is to enable rural communities to access products and services to help them transform their lives.”
Cleaner, greener and leaner oil and gas platforms are on the way.
Smaller in scale and powered remotely or by the wind and the sun, these production platforms will use less energy and operate with a lower carbon footprint. It’s all part of BP’s efforts to reduce emissions from its operations and help to advance the energy transition.
Meet the team helping BP to invest in a low carbon future.
As well as brokering traditional transactions like last year’s big deal with BHP, BP’s mergers and acquisitions (M&A) team is focused on new low carbon opportunities to advance the energy transition.
So, when BP saw an opportunity to grow its existing biofuels business in Brazil by more than 50%, it was the M&A team in the UK and the US, led by Rob Lawson, that went to work behind the scenes to seal the deal with giant agribusiness Bunge.
Rob and his team also helped to mastermind BP’s acquisition of Britain’s largest electric vehicle charging company, Chargemaster, and secure a $200 million investment in solar development company Lightsource.
While deals focused on alternative energy and low carbon technologies begin small, they can have an outsize impact by providing an early foothold in growing markets, says Lawson.
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