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bp is pursuing its strategy to become an integrated energy company delivering solutions to customers

4Q 2020 results

Resilient operations and strategic progress in a challenging environment

2020 will forever be remembered for the pain and sadness caused by COVID-19. Lives were lost – livelihoods destroyed. Our sector was hit hard as well. Road and air travel are down, as are oil demand, prices and margins. It was also a pivotal year for the company. We launched a net zero ambition, set a new strategy to become an integrated energy company and created an offshore wind business in the US. We began reinventing bp – with nearly 10 thousand people leaving the company. We strengthened our finances – taking out costs and closing major divestments. And through all of this, the underlying operations of the company remained safe – one of our safest years – and reliable, and major new projects were brought on line. I appreciate our team’s commitment to deliver the energy the world needed and am grateful for the support we received from investors and the communities where we work. We expect much better days ahead for all of us in 2021.Bernard Looney,chief executive officer
bp week image of cityscape

bp week

Over three afternoons on 14-16 September, chief executive officer Bernard Looney and members of his leadership team offered further insight into bp’s new strategy, which was launched on 4 August

From IOC to IEC: bp’s new strategy

Wind turbines in the mountains
Our net zero ambition: bp announces new strategy and a shift to low  carbon and customer focus alongside resilient operating performance.