BP Plc - Company Profile
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Business Description
BP Plc (BP) is an integrated oil and gas company that carries out upstream and downstream operations. It also has interest in LNG, GTL, biofuels and renewable businesses. It has operations in Europe, Americas, Australasia, Asia and Africa.
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R&D Overview
The company’s R&D activities include the development of four assets in its two existing offshore wind leases on the East Coast of US. It focuses on growth markets and next-gen mobility solutions, which include electrification, sustainable fuels, and production of hydrogen from water. It conducts these activities in partnership with universities, government institutions and other companies. The company has approximately 3,100 granted and pending patent applications. In FY2022, the company spent US$274 million on R&D activities which as a percentage of revenue stood at 0.1%, and increased 3% YoY.
Business Segments
- Gas and Low Carbon Energy
- Customers and Products
- Oil Production and Operations
- Other Businesses and Corporate
Overview
Operates gas and low carbon businesses. Gas business includes regions with upstream activities that produce natural gas, integrated gas and power, and gas and power trading. Low carbon business includes solar, offshore and onshore wind, hydrogen and carbon capture and storage (CCS), and the company's share in bp Bunge Bioenergia. Operates two renewable diesel and sustainable fuel aviation plants in Germany and Spain. In FY2022, the company drilled 4 net productive exploratory, 2.3 net dry exploratory, 254.5 net productive developmental and 2.8 net dry developmental wells. In FY2022, the segment’s capital expenditure stood at US$4,251 million, which decreased 10.3% YoY. Views quality of execution and growth in gas and oil assets as major factors for the growth of this segment.
Performance
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Overview
Includes convenience and retail fuels business, EV charging, as well as Castrol, aviation and B2B and midstream. Also includes products businesses, bioenergy businesses, and refining and trading of oil. In FY2022, the segment’s capital expenditure stood at US$6,252 million, which increased 117.7% YoY.
Performance
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Overview
Comprises regions with upstream activities that produce crude oil, including bpx energy. In FY2022, the segment’s capital expenditure stood at US$5,278 million, which grew 9.1% YoY. Deems investment in the marketing of higher-returning fuels and lubricants businesses, and performance improvement as the major factors for growth.
Performance
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Performance
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Geographical Segments
Performance
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Performance
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