Production & operations
We are transforming our hydrocarbons business to be at the heart of bp’s net zero future
Our resilient hydrocarbons businesses are a key pillar in our transformation into an integrated energy company. Not only are emissions reductions here essential to achieving our net zero ambition, but these cash flows will also allow us to invest in the energy transition. As we go, we’ll continue our absolute focus on safety and operational reliability.
“The phrase ‘resilient hydrocarbons’ isn’t ordinary in the energy industry – and neither is what we’re planning to do with the cash flows they generate. In a word: change.”
Dave Lawler, bp America chairman and president
Critically we now aim to reduce operational emissions by 50% by 2030, compared with an aim of 30-35% previously, on the way to net zero by 2050 or sooner.
We are also aiming for net zero lifecycle emissions from the energy products we sell by 2050 or sooner – a significant advance from the previous aim of a 50% reduction in their emissions intensity. Additionally, our aim’s scope is expanding to include physically traded sales of energy products. For 2030 we are aiming for a 15-20% reduction in the lifecycle carbon intensity of these products.
