Today, most of the energy we produce is oil and gas. But as we and the UK transition towards net zero that will change. This decade we plan to increase to 50% our capital expenditure on our transition businesses globally, and reduce oil and gas production by around 40%.
The UK has a plan to boost long-term energy security and cut emissions. At bp, we’re already hard at work on the challenge. Our UK investment plans include billions for solutions like offshore wind, EV charging, hydrogen and carbon capture, as well as maintaining a secure supply of energy through North Sea oil and gas. And our plans go beyond just infrastructure - they see us supporting the economy, skills development and job opportunities in the communities where we operate.
Read more about what we’re doing
The UK projects in which we’re looking to invest - and the wider activities supporting them - include:
We’re helping deliver this by leading one the UK’s first Carbon Capture and Storage (CCS) clusters to safely transport and store millions of tonnes CO2 emissions.
We plan to invest £1 billion in the UK over the next 10 years in electric vehicle charging in the UK, supercharging the roll-out of fast, convenient charging across the country
We’re working hard to make our North Sea business the safest in the region and even more efficient and sustainable, deploying some of the latest technologies to reduce operational emissions offshore.
We're developing leading-edge offshore wind farms in the Irish and North Sea, contributing to the UK's 50GW and Scotland's 11GW offshore wind targets for 2030.
We’re continuing to develop our retail network across the UK, providing advanced fuels and market-leading convenience, through our partnership with M&S Food.