Our strategy
We have set out a strategy that is enabling us to pivot from being an international oil company focused on producing resources to an integrated energy company focused on delivering solutions for customers
Our strategy
Building on our purpose, together with our beliefs about the future of energy systems and changing customer demands, our strategy is built on three focus areas of activity and three sources of differentiation to amplify value.
Three areas of focus
Resilient hydrocarbons – high-grading our portfolio, lowering our emissions and driving returns.
Convenience and mobility – doubling adjusted EBITDA, sustaining returns, focused on customers.
Low carbon energy – building scale with capital discipline and returns focus.
What makes us different
We believe we have the scale and expertise to navigate complex markets and manage increasingly integrated energy systems.
Integrating energy systems – harnessing our collective capabilities as the energy system transitions, helping more customers get the energy they want and creating value for our shareholders.
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.
Driving digital innovation – we innovate with a strong focus on digital to drive operational efficiencies, empower our workforce and engage better with our customers. This includes building new businesses through bp ventures and Launchpad.
“By following this strategy, we expect bp to be a very different energy company by 2030.”
Bernard Looney, chief executive officer
Our sustainability frame links our strategy to our purpose – to reimagine energy for people and our planet.
- Three focus areas: net zero, people and planet – include prioritised themes linked to the UN Sustainable Development Goals.
- Aims and objectives: we have set aims and objectives for our focus areas on people and planet, as we did with net zero.
- Embedding into our DNA: we plan to actively drive the sustainability frame through our operating model, our governance and our culture.
- External collaborations: we plan to continue the search for partnerships that can help us drive progress, provide skills we may not have, and help us shape the future together.
