We believe the world wants and needs a better and more balanced energy system – one that delivers energy that is secure and affordable, as well as lower carbon.
And, not or
Our strategy helps us to do both – invest in today’s energy system, which is predominately oil and gas, AND, not or, invest more in our transition and the energy transition.
And while we’re mostly in oil and gas today, we’ve increased global investment in our lower carbon, convenience stores and power trading businesses (what we call our ‘transition growth engines’) from around 3% in 2019 to around 30% last year.
Increasing investment in these engines is a sign that bp’s wider transformation is under way. Alongside oil and gas, we’re turning plans into action:
See below for more information on our transition businesses.