Delivering value through our growing gas and focused low carbon energy portfolios and global roster of non-operated joint ventures and strategic customer/key partner relationships. We also provide oversight and integration of bp-wide activities in China and the US. And we are home to renewable natural gas producer Archaea Energy
Gas & low carbon energy (G&LCE) encompasses businesses, platforms and partnerships helping to deliver shareholder value and decarbonize our operations while positioning us for growth through the next decade.
We are increasing investment in our gas business to strengthen the portfolio, grow production, and grow cash flow – always maintaining strong and safe operations. We are investing in lower carbon energy in a capital-light way, by maximizing partnerships, combining capabilities, and accessing external financing.
With the benefit of our growing experience, we are clear in the strategic value of low carbon energy for bp.
Our organization also aims to:
We’re investing in high-return projects and in more discovered resource access, and expect to start up six major gas projects by 2027.
We signed a contract with India’s Oil & Natural Gas Corporation as its technical services provider for Mumbai High, the country’s largest oilfield. We’ve also received final Iraqi government ratification for our contracts to invest in several giant oilfields in Kirkuk, providing for the rehabilitation and redevelopment of the fields.
Archaea Energy is the largest renewable natural gas (RNG) producer in the US. The Houston-based company was acquired by bp in late-2022.
We have prioritized five to seven hydrogen and carbon capture and storage (CCS) projects, four of which reached final investment decision in 2024.
We’ve significantly high-graded and focused our hydrogen portfolio and are prioritizing projects where we have:
In renewables, we have two top-tier platforms that will be able to grow with discipline while being capital light for bp and our shareholders: