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Our business model

What makes us different

We believe we have the scale, global presence and expertise to navigate complex markets and manage increasingly integrated energy systems. 

Our purpose 

Guiding what we do and how we operate, our purpose is:

Reimagining energy
for people and our planet 

People and resources

These are some of the people and resources in our business model that support how we create and preserve value for our stakeholders. 

Incumbent capability




employees on graduate schemes

Financial resources


capital expenditure


 operating cash flow 

Research and development 


invested in research and development


granted and pending patent applications held by bp and its subsidiaries

Energy resources 


proved hydrocarbon reserves for the groupa


developed renewables to FID (net)

Energy sector experience

>110 years

in energy

14 years

of bp Energy Outlook publications

a On a combined basis of subsidiaries and equity-accounted entities.  
(as at 31 December 2023)

Our strategy

Transforming to an integrated energy company. 

We are investing in today’s energy system – while helping build out tomorrow’s. All in service of growing the value of bp. 

Our strategic pillars



Our business groups

This is how we are organized to deliver our strategy and deliver long-term shareholder value. Our three business groups are supported by four integrators to facilitate collaboration and unlock value (innovation & engineering; regions, corporates & solutions; strategy, sustainability & ventures; and trading & shipping), and three teams that serve as enablers of business delivery (finance; legal; and people & culture). 

Gas & low carbon energy 

Integrating our existing natural gas capabilities with power trading and growth in low carbon businesses and markets, including wind, solar, hydrogen and carbon capture and storage. 


Alignment to strategy

Production & operations

The operational heart of bp, producing the hydrocarbon energy and products the world wants and needs – safely and efficiently.


Alignment to strategy

Customers & products

Focusing on customers as the driving force for innovating new business models and service platforms to deliver the convenience, mobility and energy products and services of today and the future.  


Alignment to strategy

Delivering value for stakeholders

We are committed to delivering long-term value for stakeholders.

Investors and shareholders

Includes our institutional and retail investors


total dividends distributed to bp shareholders

(2022 $4.4bn)


87,800 people worldwide


employee engagement score from the ’Pulse annual’ employee survey


(2022 70%)


The people, businesses and environment in the communities where we work.


supporting additional initiatives to benefit communities


(2022 $93m)


Including end-use consumers, B2B customers, and distributors.


customer touchpoints per day


(2022 ~12m)

Governments and regulators

In the countries where we have existing or planned activities.


corporate income tax and production tax paid


(2022 $12.5bn)

Partners and suppliers

Includes relationships with academia, industry and cities.


in payments to suppliers for goods and services


(2022 $174bn)