BP still eyes $9B into its oil & gas business per year in 2030
BAKU, Azerbaijan, Aug.6
By Leman Zeynalova – Trend:
In 2030, BP still expects to be investing globally around $9 billion into its oil and gas business per year, BP Azerbaijan told Trend.
“Oil and gas will get smaller over time but will remain an important part of bp. What is changing is that bp will no longer be predominantly a hydrocarbon company. It will be an integrated energy company - with oil and gas one part of a more balanced portfolio. As Bernard said “hydrocarbons will be integral to bp for decades to come. They are a core part of our strategy. In fact, they enable the strategy. They fuel our transformation.” So, we intend to diversify our company into different forms of energy - renewables, bio, hydrogen but oil and gas will still continue to be core to bp in the countries where we have commitments to the nations. Part of that commitment is that in 2030, we still expect to be investing globally around $9 billion into our oil and gas business per year,” the company said.
BP Azerbaijan recalled that in February bp announced its new purpose, net zero ambition and aims, and its determination to reimagine energy and reinvent bp.
“What we announced is the strategy that sets out how bp expects to deliver its ambition. Our new purpose and aims are focused on reimagining energy for people and our planet, and our new ambition is to achieve net zero by 2050 or sooner, and help the world get there too. And to achieve this we said we would have to reinvent bp into a leaner, faster-moving, lower-carbon company. So, the new strategy is our next big step in this transformation journey for bp,” said the company.
Follow the author on Twitter: @Lyaman_Zeyn