BP p.l.c.

Company Overview

BP plc offers energy products and services across various end-use industries. It operates in 61 countries across the globe with 21,100 retail sites. Its gas and low carbon energy business segment offers green hydrogen and its related solutions. Its gas business comprises regions with upstream activities that mainly produce natural gas, integrated gas and power and gas trading. Its low-carbon business includes solar, offshore and onshore wind, hydrogen and CCS and power trading (trading of both renewable and non-renewable power). BP is engaged in the production of green hydrogen to consume at its refineries. The company is also planning to invest in global export hubs for hydrogen and hydrogen derivatives like ammonia.

In 2023, its renewables pipeline increased by 21.1 GW and reached 58.3 GW. It includes the rights to develop two 4 GW North Sea offshore wind projects in Germany, increases to Lightsource bp’s pipeline with a capacity of 5.3 GW and an increase in dedicated hydrogen renewables with 12.4 GW capacity.

Financial Highlights (FY 2024)

Company's Business Segments

• Gas & Low Carbon Energy : The gas business includes regions with upstream activities that predominantly produce natural gas, integrated gas and power, and gas trading. The low-carbon business includes solar, offshore and onshore wind, hydrogen and carbon capture and storage (CCS), and power trading.
• Oil Production & Operations : This segment includes regions with upstream activities that predominantly produce crude oil and bpx energy.
• Customers & Products : This segment includes customer-focused businesses such as convenience and retail fuels, EV charging, Castrol, Aviation and B2B and midstream.
• Other Businesses & Corporate : This segment includes innovation & engineering, BP ventures, launchpads, regions, corporates & solutions, corporate activities and functions, and residual costs of the Gulf of Mexico oil spill.