1. Home
  2. What we do
  3. Our business model

Our business model

We deliver a diverse range of energy products and services to people around the world

Business model inputs

Skills in the world of energy, built up over more than 110 years.

Understanding of energy markets and how they move.

Thousands of expert scientists, engineers, and technologists.

People with outstanding capabilities in trading, shipping, marketing, and innovation.

Strong relationships with leading companies, universities and governments.

Thriving energy transition, convenience and mobility partnerships and businesses that we are growing all over the world.

A resilient financial frame and a disciplined approach to capital allocation.

Strategic activities

Low carbon electricity and energy

Through our gas & low carbon energy business, we aim to grow scale. Our low carbon businesses are complemented by integrated gas, which has an important role in the energy transition.

 

  • Growing our renewables portfolio, including offshore wind and solar.
  • Building an integrated low carbon electricity position in select developed and emerging markets.
  • Growing our integrated gas position, building on our high-value equity upstream gas, our LNG portfolio« and our marketing capability.
  • Scaling our bioenergy business, focusing on biofuels, biogas and biopower.
  • Accelerating to take early positions in hydrogen and carbon capture, use and storage.

Convenience and mobility


Our customers & products business group is an integral part of our growth and returns strategy. We aim to put customers at the heart of everything we do.

 

  • Expanding and scaling our differentiated fuels and lubricants offers in growth markets, aiming to help shape these markets over time to lean into the transition to low carbon mobility.
  • Redefining convenience through partnerships with some of the world’s leading brands and continuing to develop innovative offers, making buying our retail goods and fuels even more convenient for customers.
  • Developing next-gen mobility solutions, including electrification, sustainable fuels and hydrogen.
Resilient and focused hydrocarbons


Through our production & operations business, we aim to produce the affordable hydrocarbon energy and products the world needs, and generate cash to fund our operations and our transformation to an Integrated Energy Company.

 

  • Always putting safety first. Aiming to eliminate life-changing injuries and the most serious process safety events.
  • Reducing emissions, aligned with our aims, while delivering the energy the world needs.Transforming operations and improving efficiency.
  • Maintaining a resilient portfolio through investment efficiency and high grading.Flexibly deploying talent to our most valuable opportunities and to solve our biggest issues.

Safety is our core value. It underpins our business model and permeates everything we do.

Sources of differentiation


Integrating energy systems

We are focused on driving integration in everything we do. Through integration we bring everything together, to create end-to-end solutions for our customers.
 

214TWh traded electricity in 2020

Partnering with countries, cities, and industries

By leveraging relationships and building new partnerships we aim to provide integrated energy and mobility solutions to help cities and industries reduce carbon emissions while creating exciting business opportunities.
 

10-15city partners by 2030

Driving digital and innovation

We innovate with a strong focus on digital to drive operational efficiencies, enable our workforce, deploy new technology and create new ways to engage with our customers. This includes building new businesses through bp ventures and Launchpad.
 

38bp ventures and launchpad businesses in total

Delivering value for our stakeholders

Employees

Investors

Society

Suppliers and partners

Customers

Governments and regulators