Home grown energy

The UK is aiming for net zero by 2050. At bp, we’re all in. We’re investing billions to build new low carbon solutions, and continuing to invest in North Sea oil & gas while we find ways to cut emissions.

Today, most of the energy we produce is oil and gas. But as we transition towards net zero that will change. This decade we plan to increase to 50% our capital expenditure on our transition businesses, and reduce oil and gas production by 40%.

 

H2Teesside

The UK is aiming to scale up a low carbon hydrogen industry by 2030. At bp, we’re all in. It’s a versatile fuel that can decarbonize industry, trucking and more. Our H2Teesside bid, if selected, aims to produce roughly 20% of the UK’s 2030 target. It’s one of several projects we’re planning to make Teesside a world leader in low carbon hydrogen, just like we pioneered North Sea oil & gas for Aberdeen 50 years ago.

BP CEO Bernard Looney Photographed by Graham Trott 03 January 2020. mail@grahamtrott.com / 07836 227278

Net zero by 2050

“The world’s carbon budget is finite and running out fast; we need a rapid transition to net zero”

 

Bernard Looney, chief executive officer

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