Driving the energy transition
We are a global energy business with enormous reach across the world’s energy system. From the deep sea to the desert, from rigs to retail, our people wake every day to serve our customers. We find and produce resources, refine and market products. We track, trade and deliver the world’s energy in real-time. Only a few companies on earth can solve the problems that we can. Our industry is changing faster than at any time in our lifetime. Energy disruption and geopolitical change are transforming the economics of oil. The energy mix is shifting towards lower carbon sources, driven by technological advances and growing environmental concerns. In BP, we will help drive this transition – and our business will be transformed by it. The energy we provide has always powered economic growth and lifted people out of poverty. Today, we face the dual challenge of meeting society’s need for more energy, while at the same time reducing carbon emissions. As scientists and engineers, we recognize the urgency of the climate challenge – and will be part of the solution. Every part of our business has a tremendous amount to bring to this. Operational excellence is essential to our success. We have built BP back up by making it safer and more resilient. New technologies are helping us to produce more oil, more efficiently from existing resources in ways that we never thought possible before. Modernizing the way we work, we will make all of our operations lower-cost and more sustainable.
From governments to consumers, people have new choices about the energy they use. To meet the rising demand for cleaner energy, we will shift our focus towards gas. But this has to be done right so we are going to lead on reducing methane emissions. We will anchor our business in these changing patterns of demand; rather than in the quest for supply. With a revolution in mobility underway, we are innovating to produce new efficient fuels and biofuels. In the future the way we deliver heat, light and mobility will change dramatically. We were ahead of the curve in investing in a world beyond fossil fuels. That experience is now more important than ever because it gives us a deep understanding of the obstacles and the opportunities. There is not going to be one single energy answer. We will work on multiple fronts: growing our renewable energy business alongside a dynamic venturing arm. New carbon solutions will emerge from creative collaborations and new business models. Amid this disruption, we know some experiments will fail, others we can scale. We have navigated change before. Our people love solving big complex challenges that matter. Together with our network of long-term and trusted relationships, we have a real contribution to make to the world’s ambition on a low carbon future. This transition requires a spirit of invention and purpose – and we can help.