Trading & shipping

bp trading & shipping (T&S) is one of the world’s leading energy trading houses. Our traders work with our partners to buy, sell and move energy, integrating our products and services to provide energy solutions for 12,000 customers in 140 countries. 

At any one time, about 300 ships are on the water for bp, enabling us to move around 240 million tonnes of oil, gas and products every year. Our state-of-the-art Partnership Class LNG vessels have also helped reduce carbon emissions by 190,000 tonnes in 2019.

In T&S we use our scale, breadth of expertise, and mix of bp assets and third-party relationships to create multiple options for bp products and services, enabling us to deliver them to the optimal markets at the optimal time.

We create value for bp by:

• Integrating along value chains. 
• Integrating across value chains – across multiple products and services and multiple geographies and customers. 
• Developing integrated offers for customers through our global presence in oil, gas and power value chains, participation in carbon markets and financial capability.
  

Since T&S’s integrating role in bp includes managing the group’s energy flows, we expect the T&S portfolio to continue – as it does today – to reflect bp’s portfolio mix.  As a result, in 2050 we see T&S’s portfolio – including both traded and marketed energy products – reflecting both the decarbonisation of the global energy mix and bp’s own pivot to low carbon in line with our Aims 1-3.

By 2050, we expect T&S to:

• Be less carbon intensive, and delivering its part in bp’s ambition.
• Have worked with the Aviation and Maritime industries on decarbonising their fuel consumption.
• Have increased the number of lower carbon intensity products it supplies, optimises and trades.
• Have increased the number of carbon offsets and carbon solutions it provides to customers.
• Have increased its Natural Climate Solutions portfolio.