Society is demanding solutions for more energy, delivered in new and better ways for a low carbon future. Our strategy is designed to meet this dual challenge. Through new technologies, energy will be produced more efficiently and in new ways, helping to meet the expected rise in demand. Our strategy allows us to be competitive at a time when prices, policy, technology and customer preferences are evolving rapidly.
We believe having a balanced portfolio with advantaged oil and gas, a competitive downstream and a range of low carbon activities, with the flexibility of our strategy, gives us optionality whatever path the transition takes. With the experience we have, the portfolio we have created and the flexibility of our strategy, we can embrace the energy transition in a way that enhances our investor proposition, while continuing to meet the need for energy.
Purchased unconventional assets from BHP, giving us access to some of the best basins in the onshore US.
Signed a new production-sharing agreement with SOCAR, Azerbaijan's state oil and gas company, to jointly explore and develop block D230 in the Caspian Sea. And formed a strategic alliance with Petrobras to explore joint projects in upstream, downstream, trading and low carbon in Brazil.
Sanctioned Ghazeer in Oman – the second phase of development in the Khazzan gas field; Alligin and Vorlich in the UK North Sea; the Cassia Compression and Matapal gas projects in Trinidad; KG D6 Satellites in India; Zinia 2 in Angola; Manuel and Atlantis Phase 3 in the Gulf of Mexico; and Tortue in Mauritania and Senegal.
Started up six major projects, making a significant contribution to the 900,000 barrels per day of expected new production from major projects start-ups between 2016 and 2021.
Opened more than 220 additional REWE to Go® retail sites in Germany, taking the total number of convenience partnership sites to around 1,400 across our global retail network.
Expanded our network to 440 BP-branded retail sites in Mexico and opened our first sites in Indonesia.
Entered into an innovative collaboration between Air BP and Neste, a leading renewable products producer, to secure and promote the supply of sustainable aviation fuel.
Strengthened our lubricants and fuels partnership with Renault Sport Racing – extending our BP Castrol sponsorship and broadening the relationship to include joint development of advanced mobility solutions and new technologies.
Made a series of investments in electric vehicle technology and infrastructure to help us respond to rising demand for battery charging facilities, including the acquisition of Chargemaster, operator of the UK's largest electric vehicle charging network.
Lightsource BP has doubled the number of countries where it has a presence since December 2017.
Licensed technology, developed by BP and Johnson Matthey, to Fulcrum BioEnergy® for use at their planned US commercial-scale waste-to-fuels plant.
Working with the Oil and Gas Climate Initiative to progress the Clean Gas Project, which plans to use natural gas to generate power, and then capture and transport the CO2 by pipeline for storage in a formation under the southern North Sea.
Trialled new technologies, such as smart glasses in the US and digital vests in Oman, to help increase safety and efficiency at our operations.
Deployed Plant Operations Advisor on our four platforms in the US Gulf of Mexico. The cloud-based tool helps reduce the time it could take engineers to diagnose a problem from hours to minutes.
Installed APEX technology across all our upstream BP-operated assets to gather data about every well and help identify efficiency improvements.
Reduced the time it takes to complete manual tasks, such as contract management and customer data processing, by using robotic process automation. This is helping to optimize our business processes, drive productivity and improve customer satisfaction.
Information about our Annual General Meeting including the Notice of Meeting and speeches made by members of the board
An overview of the key activities, events and results in 2018, together with commentary on BP’s performance and our priorities as we move forward