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Our strategy

We are setting out a new strategy that will see us pivot from being an international oil company focused on producing resources to an integrated energy company focused on delivering solutions for customers
Illustration of a sustainability frame linking our purpose and net zero ambitions

Our new strategy

Building on our purpose, together with our beliefs about the future of energy systems and changing customer demands, our strategy is built around three focus areas of activity and three sources of differentiation to amplify value.

Three areas of focus

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Low carbon electricity and energy - building scale in renewables and bioenergy, seeking early positions in hydrogen and CCUS, and building out a customer gas portfolio to complement these low carbon energies.
Image of a customer using a charging point
Convenience and mobility - putting customers at the heart of what bp does, helping accelerate the global revolution in mobility, redefining the experience of convenience retail, and scaling bp’s presence and fuel sales in growth markets.
Thunder horse
Resilient and focused hydrocarbons - maintaining an absolute focus on safety and operational reliability, we intend to continue to high-grade the portfolio, resulting in significantly lower and more competitive production and refining throughput. bp will not seek to explore in countries where it does not already have upstream activities.

Three sources of differentiation to amplify value

Biofuels harvest
Integrated energy systems - along and across value chains, pulling together all bp’s capabilities to optimise energy systems and create comprehensive offers for customers. 
Aerial view of a modern city
Partnering with countries, cities, and industries as they shape their own paths to net zero. 
Man wearing a virtual reality headset
Digital and innovation - to enable new ways to engage with customers, create efficiencies, and support new businesses.
“By following this strategy, we expect bp to be a very different energy company by 2030.”
Bernard Looney

Bernard Looney, chief executive officer

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14 - 16 September 2020

Save the date to attend ‘bp week’, including bp's virtual Capital Markets Days and Energy Outlook.

 

Over three afternoons (BST) on these dates, Bernard Looney and members of his leadership team will update the market, providing detail on our new strategy and the plan to reimagine energy and reinvent bp.

 

Sessions will be hosted online only and will include the opportunity for dialogue and Q&A with bp’s leadership and management team. 

 

Sign up for news to receive an invitation to register soon.