Bp Renewable Energy Strategy

Bp announced its shift away from oil to greener energy resources including natural gas renewable fuels wind solar and hydrogen.

Bp renewable energy strategy.

In a strategy update on tuesday bp said it would cut its oil and gas output by 40 by 2030 and spend 5 billion a year on low carbon projects that it hopes will turn it into one. New purpose and ambition bp s new ceo bernard looney today announces a new purpose and a new ambition for the company. We will set aims and objectives for our focus areas on people and planet as we have done with net zero. In developing economies and as a source of near zero carbon energy in developed economies while they switch to greater renewable.

Today announced that they have agreed to collaborate as strategic partners to further digital transformation in energy systems and advance the net zero carbon goals of. Bp s new purpose is reimagining energy for people and our planet. Renewables energy consumption which includes biofuels and all traded renewable electricity apart from hydro continued to grow strongly contributing its largest increase in energy terms 3 2 ej on record. This change in course is evocative of when netflix abandoned dvd.

Bp produces the energy outlook to inform its analysis and strategy and for the past ten years has published it as a contribution to the wider debate about the future of energy. The newly announced dividend represents a. Bp strategy offers energy investors a real choice in direction. This accounted for over 40 of the global growth in primary energy last year which is larger than any other fuel.

Net zero people and planet include prioritised themes linked to the un sustainable development goals. The outlook is only one of many sources when considering the future of global energy markets and bp considers a wide range of other analyses and information. Bp to supply microsoft with renewable energy to help meet the company s 2025 renewable energy goals london uk redmond washington 15 september 2020 bp and microsoft corp. Bp will host a capital markets day in september to set out its strategy and near term plans.