Having released its full year results for 2021, energy giant bp has provided updates on its strategic transformation into an integrated energy company and its acceleration of net zero ambitions.
Part of this will see the company aiming to generate earnings of $9-10bn from transition growth businesses by 2030, driven by five transition growth engines: bioenergy, convenience, electric vehicle (EV) charging, renewables and hydrogen.
Commenting on the updates, Bernard Looney, Chief Executive, bp, said, “We enter 2022 with growing confidence. The past two years have reinforced our belief in the opportunities that the energy transition presents – to create value for our shareholders and to get to net zero.”
“The need for, and role of, an integrated energy company (IEC) has – to our minds – never been clearer.”
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