Release date: March 9, 2018
The annual week-long summit, organized by research firm IHS Markit, brings together industry executives, government officials and other leaders from around the world to discuss the future of energy. With oil prices climbing in recent months beyond $60 a barrel, the overall mood at the event was more confident and optimistic than in years past.
Group Chief Executive Bob Dudley and several other BP leaders spoke about topics ranging from reducing greenhouse gas emissions to developing a more diverse and inclusive workforce.
“A race to renewables will not solve the dual challenge. Instead, we need to be agnostic about fuels and focused on a race to lower emissions.”
“BP has identified focus areas for our lower-carbon investments ranging from advanced mobility to carbon management to power and storage.”
“There’s enormous productivity potential in modernization. The drivers of modernization are digital transformation, agility and mindset. And the largest cultural change will come from the right mindset.”
“Recently we applied a mathematical model to optimize production at 180 onshore wells in the U.S. It led to a 75 percent cut in venting emissions, a 20 percent increase in production and a 20 percent decrease in costs.”
“We are investing in a series of smaller plays. We feel we can stay on top of where markets are going.”
“Now when you combine robotics with other capabilities, like predictive analytics and artificial intelligence, you have intelligent robots. It changes how we work - making us more efficient and more productive.”
“Inclusion is a choice we all make every day. It’s behavioral. While we can create diversity, we have to get insight into the way we are thinking and reinforce that it’s about how we behave.”
“Transparency, openness, communication - that all needs to continue. I think what we need to do is keep talking about it until it is not awkward anymore, until it is not an issue anymore, and keep measuring our progress to ensure that we are going forward and not backward.”