Our transformation
bp aims to be a net zero company by 2050 or sooner across our operations, production and sales. The US is pivotal to achieving that.
Today, most of our global investment goes into oil and gas. By 2030, we aim for around half to be going into our lower carbon businesses, convenience and power.
This is our strategy to get there:
Investing in resilient hydrocarbons
That means producing reliable energy safely and responsibly while lowering emissions and driving returns. Like we did in 2020, when bpx energy delivered 245,000 metric tons of sustainable emissions reductions.
Growing our convenience and mobility business
That means taking major steps to accelerate EV fleet charging and serving more than 3 million customers daily across 35 states.
Scaling up investments in low carbon energy
That means rapidly scaling renewables like solar and offshore wind, and expanding into carbon capture, use, and storage and low carbon hydrogen production.
Our Gulf of Mexico business is helping to drive the transformation of our business toward becoming an integrated energy company by increasing production of resilient hydrocarbons, while lowering emissions in the region.
Our operations are home to some of bp’s most resilient hydrocarbons. Our Grand Slam facility exemplifies how we can reach our net zero ambition as a company, by decarbonizing our existing production and centralizing delivery of oil & gas in order to reduce emissions at the source.
Biogas is generated by the decomposition of organic material at landfill sites, anaerobic digesters and other waste facilities – and demand for it is growing rapidly. In bp’s Energy Outlook 2022, biogas grows more than 25-fold from 2019 to 2050, in both the Accelerated and Net Zero scenarios.
Our growing US wind energy business is core to our strategy: by 2030, we aim to have developed around 50GW of net renewable generating capacity globally, up from 3.3GW in 2020.
Our US refineries play a key role in powering regional transportation networks. But we’re not stopping there. We are transforming what we do and how we get things done. We are improving safety, driving down emissions, controlling costs, and innovating how we work.
As we are transforming into an integrated energy company, we combine our trading, mobility and customer expertise with Lightsource bp’s world-class solar project development experience and execution capabilities to deliver renewable power to our customers.
To transform, we are innovating with new business models and service platforms to deliver the future of mobility, energy and services to nearly 3 million customers and consumers, in 35 states across the US, every day.
Our US trading and shipping (T&S) teams work across value chains, drawing together our capabilities to optimize energy systems for 3,500 North American customers annually. By 2050, we see T&S’s portfolio of traded and marketed products helping to decarbonize the global energy mix.
Producing resilient hydrocarbons
Find out more about the Gulf of Mexico
Advocating while we transform
bp is advocating for policies that can help us, and America, achieve our shared net zero ambition.
