Analytical Instrumentation

  • BP Announces New Net Zero Strategy

BP Announces New Net Zero Strategy

Aug 31 2020 Read 341 Times

In its latest attempt to evolve with the changing energy landscape, BP has announced a net zero strategy that will see the company shift its attention to sustainable, low-carbon energy by 2030. “We are setting out a new strategy that will see us pivot from being an international oil company focused on producing resources to an integrated energy company focused on delivering solutions for customers,” reads a statement published on the BP website.

Exploring the three key areas of focus

The new strategy highlights three key areas of focus – Low Carbon Electricity and Energy, Convenience and Mobility, and Resilient and Focused Hydrocarbons. All will play a critical role in helping BP restructure its operations and embrace a new era of cleaner, more sustainable energy.

“Building on our purpose, together with our beliefs about the future of energy systems and changing customer demands, our strategy is built around three focus areas of activity and three sources of differentiation to amplify value,” reads the website.

  • Low Carbon Electricity and Energy

This focus area will involve building scale in the renewables and bioenergy sectors. BP will actively seek out carbon capture and storage (CCUS) and hydrogen opportunities while building a gas portfolio.

  • Convenience and Mobility

Customer-centred solutions will be at the heart of the new BPO strategy, with the company pledging to revolutionise global mobility, reimagine the retail experience and boost fuel sales worldwide.

  • Resilient and Focused Hydrocarbons

Moving forward, BP plans to restructure itself as a leaner, high-grade company. This will result in “significantly lower and more competitive production and refining throughput.” The company has also pledged not to explore in countries where upstream activities don’t already exist.

BP pledges to become “very different energy company by 2030”

The strategy will be complemented by three key sources of differentiation designed to add value to the company and leverage new trends and technologies. These include developing integrated energy systems, building partnerships with countries, cities and industries around the world, and using next-generation digital technologies to engage with customers and enhance efficiency.

“By following this strategy, we expect bp to be a very different energy company by 2030,” says Bernard Looney, chief executive officer at BP.

To find out more about how energy companies are evolving and adapting to the new landscape, don’t miss ‘In posterum for Automotive Lubricants: Maximising Fuel Economy by Thinning Lubricating Oils’ with insight from Dr. Raj Shah for Koehler Instrument Company and Dr. Mathias Woydt for Matrilub.

Reader comments

Do you like or dislike what you have read? Why not post a comment to tell others / the manufacturer and our Editor what you think. To leave comments please complete the form below. Providing the content is approved, your comment will be on screen in less than 24 hours. Leaving comments on product information and articles can assist with future editorial and article content. Post questions, thoughts or simply whether you like the content.

Post a Comment

Digital Edition

Petro Industry News November 2020

November 2020

In This Edition Fuel For Thought - Special offer for computer program for chemical thermodynamic and energy release evaluation - Acquisition to combine French expertise for moisture analysis...

View all digital editions


Rio Oil & Gas 2020 - NEW DATES


Valve World Conference & Expo 2020 - CANCELLED

Dec 01 2020 Dusseldorf, Germany

Interlab Africa

Dec 05 2020 Algiers, Algeria

ASTM - D02 Meeting - CANCELLED

Dec 06 2020 Austin, TX, USA

View all events